Nationalization of Vicentin would imply that BlackRock shares 25% of Renova

Argentina and BlackRock have a business relationship that will last much longer than debt renegotiation with creditors. The fund managed by Larry Fink not only maintains strong and deep investments in the country’s financial economy; it also has extensive investments in the productive economy. It will happen if the government moves forward with the nationalization of Vicentin, which includes the package of assets of the Santa Fe group to the Renova project. Most of this project is owned by the Swiss group Glencore, of which BlackRock has a 6% stake. If Vicentin’s takeover, and hence 25% of Renova, is completed, the Argentine state would again share shares with BlackRock.

Source: Ámbito

Categories: Macroeconomy/Finance