If the reports that circulated insistently in recent hours come true, In the coming days, the pre-award of Impsa to the American company ARC Energy will be announced. who would take possession of the company sometime next February.
ARC Energy was the only bidder when Milei launched the international tender in the month of October to acquire the majority of the shareholding of the metallurgical company that was founded in 1907 by the Pescarmona family and in 2021 was nationalized by the management of Alberto Fernández.
At that time, the national State kept 63.7% of the shares and the province of Mendoza with 21.2%. The rest of the shares are distributed between a fund of creditors (9.78%) and the Pescarmona family (5%).
In September 2024, the Mendoza government enabled the transfer of its shares and allowed the national Executive to move forward with the privatization of the company. After this and several months of negotiations, the Libertarian Government finally accepted ARC’s offer and it is expected that in the coming days the pre-award of Impsa to the American company will be announced.
ARC Energy is based in Louisiana, United States. The president of the firm is Jason Arceneaux, and both he and two of the company’s directors, who are Venezuelan, appeared publicly as contributors to the campaign of Donald Trump.
According to the understanding reached with the Argentine government, the North American company will make an immediate payment of about US$7 millionwhich represent 25% of its capitalization proposal, which reaches a total of US$27 million.
The rest of the money will be disbursed throughout 2025 with working capital during the search process for new contracts. As it turned out, the new administration will aim to win tenders for cranes for ports and maintenance of hydroelectric plants in the United States.
Another issue that was under discussion and that has already been closed is the possibility of renegotiating the current contracts that Impsa had with the Ministry of Defense, YPF and other state organizations.
Impsa It has a liability that is calculated at US$570 million. Among the main creditors are Banco Nación, the IDB, the BICE, and the Chilean corporation Grupo Moneda. The future owners want to ensure that they will be able to renegotiate those debts to be able to move forward with the operation of the company.
Impsa, which began as Industrias Metalúrgicas Pescarmona, became one of the main Argentine companies in the metallurgical and energy sector, with key participation in hydroelectric projects, wind farms, nuclear energy and equipment for the oil and gas industry. It has a staff of 660 employeeswhose salaries represent around $1.4 billion per month.
Source: Ambito
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