Argentina’s state-controlled oil and gas company YPF has sold a 24.99% stake in its power subsidiary, YPF Energía Eléctrica (YPF EE), to US conglomerate GE, and is looking to sell another 24.5% of the company to an unnamed group, the company said in a statement to the Buenos Aires stock exchange.

The share sale aims to raise cash for its $1.3bn