YPF sells 70% of Argentina's largest gas distributor, Metrogas, to Edenor for $780 million

Argentine state-owned oil company YPF has announced the sale of its controlling 70% stake in Metrogas, the nation's primary natural gas distributor, to electricity distributor Edenor for $780 million. This significant transaction marks a shift in ownership for a key energy infrastructure company in Argentina.

The sale was finalized through a competitive bidding process where YPF received multiple offers. Edenor, alongside its partner Andina PLC, a firm indirectly owned by the conglomerate Integra Capital founded by Argentine businessman José Luis Manzano, presented the successful bid. Notably, Integra Capital already holds a minor stake in Metrogas through Integra Gas Distribution.

Metrogas, established in 1992, is recognized as Argentina's largest natural gas distributor and ranks as the third largest in South America. The company provides essential services to approximately 2,250,000 customers located in the city of Buenos Aires and eleven adjacent municipalities. This acquisition by Edenor is expected to reshape the energy distribution landscape in the region.

Currently, other shareholders in Metrogas include Integra Gas Distribution with 9.23% and the National Social Security Administration (ANSES) with 8.13%. An additional 12.64% of the company's shares are publicly traded on the Buenos Aires Stock Exchange.