On 1 October 2024, the national government through the Official Gazette finalised the call for national and international public tender for the sale of 100% of IMPSA’s class C (state-owned) shares.
Although Mendoza owns 21.2% of the share capital and required the authorisation of the Legislature to proceed with the transfer of its shares, it is the Nation that is leading the process as the largest shareholder with 63.7% of the shares.
The National Fund for Productive Development (‘FONDEP’) and the province of Mendoza have officially put up for sale all of their class C shares in IMPSA, which represent 84.9% of the share capital, equivalent to 1,815,926,100 shares, including voting and political rights.
According to the national and international call for bids, ‘third parties and current shareholders may be bidders if they acquire the bidding documents and comply with the conditions set forth therein’.
The period for submitting bids runs from 1 to 31 October, when envelopes will be opened in a public event. The cost of the tender documents is $1,000.
