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In the midst of the fight with the Government, Edesur sold its share in the Central Dock Sud to YPF


He exercised the right of priority to displace the Bemberg Group, which had submitted a signed offer a month ago. With the departure of Edesur, YPF remains as partners with 81% and PAE, from the Bulgheroni, with 19%

While the Government criminally denounces Edesur before the courts, the owners of Edesur, the Italian Enel, advance with the dismantling of their investments in Argentina.

They have just sold their shareholding in the

Central Dock Sud

to YPF, a company that until today belonged to Enel, YPF and PAE, where the Bulgheroni family carves. With the departure of Enel, which got rid of 41.2% of the share capital , Dock Sud remains in the hands of YPF as majority shareholder and PAE.

Before this operation was reported, Central Puerto (from the Bemberg group), which bought Central Costanera from Enel a month ago, had made a firm offer for Dock Sud. But in this case, the current partners of Dock Sud had the right to match

the offer and have priority for the purchase


It is what happened.

Central Puerto had taken advantage of the divestment situation of the owners of Edesur to advance on two large metropolitan assets such as Central Costanera and Central Dock Sud.

For this, it made an offer of 48 million dollars to acquire the shareholding package of the Italians in the first plant (75.7%) and 54 million for its share in the second (41.2%).

However, as YPF was the second largest shareholder of the southern GBA thermoelectric plant, it had the right to match Central Puerto's offer and thus keep

81.2% of the entire package


In this regard, YPF communicated the following: The Board of Directors of YPF Energía Eléctrica SA (“YPF Luz”), at its meeting on March 17, 2023, resolved: • That the Company exercise its preferential purchase right of all the shares that Enel Americas SA, as seller, owns Inversora Dock Sud SA, the controlling company of Central Dock Sud SA

• To formulate a purchase offer to Enel Argentina SA for all the shares that Enel Argentina SA owns in Central Dock Sud SA, subject to the fact that the remaining shareholders of the latter do not exercise any preferential rights they may have.

The decision to exercise the preferential purchase of Inversora Dock Sud will allow YPF Luz to assume control of Central Dock Sud, one of the most efficient plants in the AMBA, whose contribution is essential to supply the area with the highest energy demand in the country.

The thermoelectric plant has the capacity to produce 120.2 GWh with diesel and some 4,337 GWh with natural gas.

"More than a hundred years after its original foundation and after several corporate changes, the company today has state-of-the-art technology for thermoelectric generation," reports the firm, located in the Avellaneda district of Buenos Aires.

Source: clarin

All business articles on 2023-03-17

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