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Argentina's YPF eyes sale of electricity subsidiary stake to GE

2017/07/16

BUENOS AIRES

Argentina's state-run oil company, YPF, is in talks with General Electric Co to sell a 49 per cent stake in its electricity generation subsidiary to the US industrial conglomerate, local newspaper Clarin reported.
 
A YPF spokesman and a GE spokeswoman declined to comment. The two companies are partnering on several electricity projects in Argentina, Latin America's No 3 economy, including plants in the province of Tucuman and near the Vaca Muerta shale field.
 
Last week, the two companies announced that they had secured $220 million in project financing from Citigroup and Credit Suisse, among others, for two jointly owned thermal power projects. 
 
The value of the potential deal was unclear, and YPF does not publicise the value of the subsidiary, YPF Energia Electrica.
 
YPF launched the subsidiary in 2013. -- Reuters






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