Argentina privatizes state metal firm in Milei era first

Lucila Sigal - Reuters - 08/01
Argentina's government has privatized metallurgical firm IMPSA, the economy ministry said on Wednesday, marking its first privatization since libertarian President Javier Milei took power just over a year ago promising to shrink the state.
  • IMPSA shares transferred to U.S.-based Industrial Acquisition Fund
  • IAF proposes $27 million capital injection for IMPSA
  • IMPSA must renegotiate $576 million debt before finalizing sale
BUENOS AIRES, Jan 8 (Reuters) - Argentina's government has privatized metallurgical firm IMPSA, the economy ministry said on Wednesday, marking its first privatization since libertarian President Javier Milei took power just over a year ago promising to shrink the state.
The company's shares will be transferred to the U.S.-based consortium Industrial Acquisition Fund (IAF), whose top partner is Arc Energy, according to an official announcement on Wednesday.
A government commission reviewed bids for IMPSA's sale and recommended awarding shares held by national and provincial governments to the IAF consortium.
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