YPF Divests Its Stake in Gas Distribution for 780 Million Dollars
14 Articles
14 Articles
YPF divests its stake in gas distribution for 780 million dollars
Argentine oil company YPF, 51% state-controlled, has accepted Edenor's offer to buy its stake in Metrogas and Metroenergía for 780 million dollars, according to a filing submitted on Monday to the securities regulator. The deal takes the company out of the natural gas distribution business.
The state oil company YPF sells for 780 million dollars its majority share in Metrogas
José Luis Manzano adds Argentina's largest gas distributor to its electricity, oil and telecommunications businesses.
The president and CEO of YPF, Horacio Marín, explained that the process to incorporate private capital was not successful and that the proposals received were not suitable for the company. Read more
The president and CEO of YPF explained why the company decided to divest Metrogas and defended the operation with Edenor as part of the strategic focus on Vaca Muerta. He also charted its projections for oil production, crude exports, the advancement of VMOS and the LNG project that seeks to transform the energy profile of the country.
The price normalization and cost reduction boosted the business during the first semester. The purchase of MetroGAS now opens a new stage for Edenor
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