Repsol officials calculated compensation by multiplying the highest price earnings ratio reached by YPF in the prior two years by its earnings per share in 2011 .
Repsol officials arrived at US $10.5 billion for a 57 % stake .
Repsol officials calculated compensation by multiplying the highest price earnings ratio reached by YPF in the prior two years by its earnings per share in 2011 , and arrived at US $10.5 billion for a 57 % stake .