Argentina will put up for sale its entire 51% stake in majority state-owned power transport firm Transener in the coming days, energy and mining government coordination secretary Daniel Gonzalez said on Friday.
Transener is the South American nation’s main high voltage power transmission company, with a grid that includes some 12,400 kilometers of transmission lines, according to the government.
“This announcement is in line with the national government’s policy of advancing in a model where the state ceases to play the role of entrepreneur, promoting private participation in strategic sectors,” Gonzalez said in a statement.
The libertarian government of President Javier Milei has pushed a plan to drastically cut down the role of the state as Argentina battles its worst economic crisis in decades, with inflation well into the triple digits.
Under Milei, inflation has come down from a peak near 300% and is expected to end this year closer to 100%. However, the economy has slowed and poverty rates have surged past 50% amid cuts in public spending.
Source: Reuters.com