The Vila-Manzano-Filiberti Group purchased Edenor from Pampa Energía for $100 mn. Yesterday formalized 51% of the shares of Edenor by Pampa Energía to the group formed by the businessmen Daniel Vila, José Luis Manzano and Mauricio Filiberti. The operation was closed at $95 million in cash, paid in three instalments, plus a "contingent" payment, which would bring the amount to close to $100 million. Edenor operates the largest electricity distribution network, with 3.2 million customers, approximately 20% of the country's total electricity demand.
The company projects a turnover of more than US$ 20 billion for online sales in the region this year, representing a 46% increase. Much of the volume comes from its 3 of 18 countries of operation: Brazil $10.97 billion, Argentina $4.41 billion and Mexico $4.06 billion. Securities on the New York Stock Exchange began to rise from March and reached a valuation of $84.6 billion. It is the most valuable company in Latin America, an achievement for the performance of its original business, eCommerce and also for its thriving financial arm: Mercado Pago.
The Sancor Seguros group will make investments of $200 million over the next two years, the majority of which, $85 million, will be to capitalize and launch Banco del Sol's retail and corporate banking sector. Another essential part of the investments will be for the CITES business incubator. They plan to invest $10 million in the construction of the building and allocate $30 million to incubate new projects. Eighty-five million dollars will be invested in the real estate business for construction and financing. They plan to create at least 800 new direct jobs.
The state-owned company Jujuy Energía y Minería (Jemse) announced that it has 10,500 hectares of mining properties in salt flats to form strategic alliances to develop exploration and consolidate the province as a significant producer worldwide. Currently, it has around 10,500 hectares in salt flats to form strategic partnerships to develop greenfield exploration.
The Mirgor Group manufactures products for automotive, telephony and mass-market electronics. The Group's cumulative sales in the third quarter of 2020 were 6.4% higher than reported sales in the same period of the previous year. Accumulated net profit for the third quarter generated an increase of 173% compared to the third quarter of 2019.
DAPSA -Destilería Argentina de Petróleo SA-, belonging to the Argentinean holding company Sociedad Comercial del Plata (SCP), invested 22 million dollars in renovating and embankment 100 service stations located in 11 provinces of the country, thus complying with the strategic expansion plan.
Yesterday, Alfredo Coto led the reopening of a refrigeration plant he bought in 2018 in Rosario, Santa Fe. With an investment of $25 million and the creation of 650 jobs, the owner of the supermarket chain said the expansion works would allow him to boost his livestock exports to markets in Europe and Asia.
The agreement between the Government and Aeropuertos Argentina 2000 will involve an investment of $2.5 billion and will generate 15 thousand jobs. The agreed plan foresees the first $1.4 billion in investments over the next seven years, with works to carry out in airports located in 20 provinces, which will allow for the accelerated recovery and development of the airport system with a federal focus. The extension, foreseen in the original contract, will be extended until 2038.
Yesterday, the government made the award of 67 million cubic meters (m3) of gas in the first bidding that it completed within the GasAr Plan, and in which it validated prices of between $2.40 and $3.66 per million BTU, according to the offers made by 20 oil companies. YPF got the larges award, which will … Continue reading Gas Plan: 67 M m3 per day awarded
Two weeks ago Grupo Iraola announced an investment of 980 million pesos ($82.48 mn) to start manufacturing motorcycles of the Japanese brand Kawasaki in the country and expand the current more than 110,000 square meters of installed capacity between its production plants and distribution centres.