Argentina presents bill to take over Repsol's YPF

BUENOS AIRES, April 16 Mon Apr 16, 2012 12:15pm EDT

BUENOS AIRES, April 16 (Reuters) - Argentina's government said on Monday it will present a bill to the Senate aimed at taking control of the country's biggest oil company, YPF , which is controlled by Spain's Repsol.

The bill would allow the government to expropriate 51 percent of YPF shares. Forty-nine percent of those shares would be put in the hands of oil-producing provinces.