Almundo completes 100% acquisition of Avantrip

The Brazilian company CVC Group, owner of Almundo, informed the Brazilian Securities and Exchange Commission that it acquired the remaining 39.94% stake in Grupo Bibam (with Biblos, focused on luxury tourism Avantrip, an online agency), both based in Argentina. CVC Corp becomes the most influential travel group in Latin America with this purchase, which already … Continue reading Almundo completes 100% acquisition of Avantrip

Successful placement of $21.38 mn real estate investment fund

This week, the first real estate Closed-end Mutual Fund, Pellegrini I, was placed in the local capital market to finance the development and construction of housing for the middle and low-income sectors of the population. Pellegrini S.A., a company of Banco Nación, acted as Managing Company and Banco de Valores acted as depositary, arranging the issue and the placement, which closed at a total of 2,033 million pesos ($21.38 mn).

YPF Luz reached 175 MW in Los Teros wind farm

YPF Luz's Los Teros Wind Farm, located 45 kilometres from the town of Azul in Buenos Aires, added 52 megawatts and reached 175 megawatts of installed power, equivalent to the electricity needed to supply 215,000 homes. The wind farm has 45 wind turbines installed on a total surface of 3,610 hectares, can produce 838 GWh … Continue reading YPF Luz reached 175 MW in Los Teros wind farm

IDB to lend $200 mn to Argentina for sanitation works

The Inter-American Development Bank (IDB) approved a $200 million loan to finance a drinking water and sanitation program to benefit some 184,000 households "with new and improved connections to these basic services in towns with less than 50,000 inhabitants". The Argentine government will provide the remaining $50 million to carry out the project.