On April 25, 2025, Decree No. 286/2025 (“Decree 286”) was published in the Official Gazette, authorizing the full privatization of Energía Argentina S.A. (“EA”) and the sale of its equity interest in CITELEC.
Decree 286 foresees that EA will be privatized in stages, through the separation of the activities and assets of its different business units, ensuring that the performance of services and works currently under EA’s scope is not interrupted.
Thus, with the approval of the sale of EA’s shares in CITELEC, the first stage of EA’s privatization has begun.
EA holds 50% of the shares of CITELEC, a company that is the controlling shareholder of TRANSENER, which in turn holds 99.9% of the shares in TRANSBA (the remaining 0.1% is held by CITELEC).
TRANSENER is the extra-high voltage power transmission utility operating nationwide; TRANSBA, in turn, is the utility for trunk power transmission in the Province of Buenos Aires.
The sale of EA’s shares in CITELEC will be carried out through an international and national public bidding process, pursuant to Articles 17(2) and 18(2) of the State Reform Law No. 23,696, as amended.
The Ministry of Economy, with the involvement of the Special Temporary Executive Unit for the Transformation of State-Owned Companies (ATEP), will issue the necessary regulations to implement Decree 286.
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For further information, please contact Nicolás Eliaschev, Javier Constanzó, Federico Otero, Julián Razumny, Francisco Molina Portela, Camila Evangelista, Milagros Piñeiro, Macarena Becerra, Inés Espina Rawson, Victoria Barrueco, and/or Manuel Crespi.