The norm enables the sale of 90% of Aysa’s share capital, currently in the hands of the national state, through a national and international public tender process. As detailed, the procedure will be in charge of the Ministry of Economy in conjunction with the Public Business Transformation Agency, a special executing unit created for this purpose.
How will the sale of Aysa
The sale will be organized in two stages. In the first, It will seek to transfer at least 51% of the shares to a strategic operator of the sectorwhich would mark the transfer of the company’s operational control. Subsequently, the rest of the shareholding package will be offered in stock exchanges and markets, without applying the preferences provided for in article 16 of Law No. 23,696, nor implement a participated property program.
The decision is based on the diagnosis of the current administration, which argues that Aysa operated deficiently since its creation, depending constantly and significantly on state financing. According to official figures, between 2006 and 2023 the National Treasury transferred to the company about US $ 13,400 million.
Despite this assistance, The Government states that it was not possible to avoid progressive deterioration in the efficiency and productivity of the company, with a sustained increase in operating costs and a fall in labor productivity. In addition, it was highlighted that To improve the quality of the service, strong investments in infrastructure would be requiredimpossible to face both by the company and by the State itself, without compromising the policy of reduction of the fiscal deficit.
“State intervention, through the development of activities that can be carried out by the private sector, has not given the expected results and has been unable to provide an efficient and efficient solution in the management of public services, which does not entail important expenditures for the national state,” explained the decree.
The Ministry of Economy, as an application authority, will be responsible for guaranteeing that The privatization process does not affect the continuity of the public water and sanitation provision service.
The privatization of AYSA was provided for in article 2 of Law No. 27,742 of bases and starting points for the freedom of Argentines, and is part of the General Plan for the Reformation and Reorganization of the State promoted by the ruling party.
Prior to the announcement, the Ministry of Public Works had designed a “Transition Action Plan of Aysa SA for the period 2024-2026”, aimed at adapting the company’s commitments to its real execution and investment capacity. That scheme, according to the government, will serve as a basis for facilitating the transition to a new management model, more efficient and sustainable over time.
Source: Ambito
