After having completed the renegotiation of a debt of US $ 570 million With the creditors of the State Metallurgical, The privatization of the company was signed today What will happen to the American Arc Energysigning of close links with the current president of the United States, Donald Trump.
The operation consisted of The transfer of 84.9% of class C actions that the Government of the Nation and the province of Mendoza possessed after the state salvage that the then President Alberto Fernández implemented in 2021.
The firm was made this noon at the facilities of the Metalworking Company in Mendoza, with the participation of the Vice Governor Hebe Casado; the Minister of Energy, Jimena Latorre; and the Governor Alfredo Cornejowho participated through videoconference since he is traveling through Europe.
Arc Energyis part of the Industrial Consortium Acquisions Fund (IAF). To stay with Impsa, in addition to assuming liabilities, COppromated an investment of US $ 27 million To capitalize on the company.
This capital contribution will be implemented through a disbursement scheme and “is part of the commitment assumed by the new administration to guarantee the financial sustainability of Impsa, promoting its development and growth in the sector,” it was reported. In this way, it seeks to “strengthen operational capacity and strengthen the process of recovering from the local and national economy,” added the official report.
In that sense, it was established A SIX SCHEDULE According to the following amounts and deadlines:
- First payment: U $ 6.75 million at the time of signing the contract, as a contribution on account of the capital increase that the Assembly will resolve.
- Second Payment: U $ S5 million within the first three months of the closing date.
- Third Payment: U $ S3 million within six months of the closing date.
- Fourth Payment: U $ S5 million to be disbursed for 2025.
- Fifth Payment: U $ 2.25 million within the first quarter of 2026.
- Sixth Payment: U $ S5 million within the first half of 2026.
How was the bidding and sale process of impa
THE SALE PROCESS It began on October 1, 2024when the government opened a call to international tender. There were several interested parties, but only Arc Energy presented a formal offer. On October 31, 2024, the American company offered US $ 27 million, committing to maintaining the operation and jobs.
In December, the Ministry of Economy He asked for an adjustment in the offer to improve the conditions of the operation. In January, Arc Energy detailed the central points of his final proposal, which allowed progress with the final award.
But the final transfer of the company He was conditioned to the negotiation of a debt of US $ 576 millionwhose restructuring was completed this Monday, February 10, after an extension requested with respect to the original period of January 31.
The main creditors are the Bank of the Province of Buenos Aires, the Mortgage Bank, the BICE Bank, Export Development Canada, the Andean Development Corporation, the Bradesco Brazilian Bank and the holders of negotiable obligations.
While the purchase process was developed, Arc Energy developed an action plan to enhance the presence of Impsa in the international market. The plan includes the search for new contracts in hydroelectric, nuclear, wind and expansion in the port crane business.
In addition, the company plans to increase the participation of the Mendoza company in state tenders in the United Statesboth in renewable energies and the port infrastructure, taking advantage of the links that the controlling group has with Donald Trump. “The objective is to position ABSA as a relevant actor in the global energy sector,” he reported in a timely manner.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
