He Ministry of Economy the formation of the team for the Agency for the Transformation of Public Companies, which operates under the orbit of the Ministry of Economy, headed by Luis Caputo. This agency will be in charge of promote the privatization process of companies currently under state control. The appointments, published in the Official Gazette through administrative decision 967/2024, will take effect from August 28 and will have a rank equivalent to that of national director.
In this context, the Government appointed Matias Micheloni as the Agency’s new executive director of Processes and Privatizations. Micheloni, who in March assumed the position of Undersecretary of Corporate Administration at the State Secretariat of Companies and Companies, will now lead this new position.
The doctor Magdalena González Moreno, expert in Administrative Law and advisor to Radio and Television Argentina (RTA), she will be the executive director of Pliegos y Contratos Especiales.
For its part, Belén Moretti, who is part of the advisory team of the Secretary of State Companies and Companies, will hold the position of executive director of Labor Articulation. Milagros Agustina GonzálezMeanwhile, he will be in charge of the Executive Directorate of Corporate Support and Contractual Relations of the agency.
All of them will report to Diego Chaher, who was appointed in June as Secretary of State Companies and Companies after his intervention in the Télam news agency.
He Ministry of Economy explained the need to cover these positions, clarifying that they do not involve extraordinary resources. At the end of August, the Executive made progress in structuring the organization through decree 764/2024, which establishes thatThe agency will be in charge of coordinating and directing actions related to the development of companies and societiescovering action plans, budgets, and modifications to its legal structuresuch as mergers, splits or transfers to provinces or to the Autonomous City of Buenos Aires (CABA).
What functions will the Public Company Transformation Agency
1. Coordinate the monitoring and evaluation of action plans and extraordinary budget items of State companies and will have to participate in the evaluation, implementation and monitoring of the companies’ action plans and budgets.
2. Intervene in the legal and regulatory aspects of comprehensive intervention projects, liquidation, closure, privatization, total or partial sale of a share package, private initiative, merger, spin-off, dissolution, transformation and strategic disposition of the shares and/or the assets that make up the Companies, State Companies and those Companies in which the national State has a majority participation in the capital or in the formation of decisions, analyzing their feasibility within the scope of its competence.
3. Preparation and approval of the general and particular bases and conditions and other contractual documentation necessary to carry out private initiative and privatization procedures and in the approval of the terms of the companies’ strategic disposition documents.
Which companies can be privatized, after the approval of the Bases law
The companies that are in a position to be privatized, after the approval of the Base Law, are eight. It is about AYSA, Energía Argentina, Intercargo, Belgrano Cargas, Sociedad Operadora Ferroviaria SE, Corredores Viales, Nucleoeléctrica Argentina Sociedad Anónima (NASA) and Yacimientos Carboniferos Río Turbio (YCRT). Although the Government also wanted to include Aerolíneas Argentinas, Radio y Televisión Argentina and Correo Argentino on the list, they agreed with the legislators to leave those companies out of the debate.
However, the Government moved forward with the declaration of Aerolíneas Argentinas, as a company subject to privatization, while some projects to proceed with its sale are advancing in Congress. On the other hand, the agency began the path towards the privatization of the dams of Comahue.
Source: Ambito
