Argentina Approves Privatization of Metallurgical Company IMPSA

January 10, 2025--Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Argentina's federal government and the Mendoza province's regional administration have approved an offer to acquire IMPSA, a public metallurgical firm, by the Industrial Acquisition Fund (IAF) and Arc Energy (Houston, Texas). This is the first public company sale under Javier Milei's administration, which vowed to sell state companies and reduce government spending. IAF proposed a capital investment of US$27 million and requested until January 31 to obtain the refinancing for the debt held by the company's creditors, totalling US$576 million.