Argentina defines privatization of steel company IMPSA with sale of shares to the US
Photo: Internet
Published at: 09/01/2025 08:01 AM
This Wednesday, the ultra-right government of Javier Milei in Argentina authorized the sale of the shares of the steel company Industrias Metalúrgica Pescarmona (IMPSA) S.A to the US-based company ARC Energy.
The Ministry of Commerce, in a press release, reported that the Evaluation Committee of the bids for the sale of IMPSA — comprised of the National Fund for Productive Development (FONDEP) of the Ministry of Economy, the Agency for the Transformation of Public Enterprises and the province of Mendoza decided to recommend that the company's shares held by the national and provincial governments be pre-awarded to the consortium. Industrial Acquisition Fund (IAF) whose main partner is Arc Energy”.
The American firm knows the benefits of this “business”, and for this reason it agreed to pay 27 million dollars for the company's state actions and to take charge of a debt that reaches 576 million dollars
Mazo News Team