Banco de la Nación Argentina transforms into a Corporation (BNA S.A.)
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Pursuant to Decree No. 116/2025, the National Government has mandated the conversion of Banco de la Nación Argentina into a corporation (sociedad anónima), designated as Banco de la Nación Argentina Sociedad Anónima (BNA S.A.).
Although the National Government will maintain 99.9% of the capital stock, the new legal structure allows for future share issuance, potential private investment, and further privatization opportunities.
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Yacimientos Carboníferos Río Turbio has also converted into a Corporation
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Through Decree No. 115/25, Yacimientos Carboníferos Río Turbio (“YCRT”), the state-owned coal mining company operating in Santa Cruz Province, has been transformed into a corporation (sociedad anónima), marking a significant step toward its potential privatization.
YCRT operates coal mines in Río Turbio, a region with substantial coal reserves, and is linked to the Central Termoeléctrica Río Turbio, a 240 MW power plant. The company plays a critical role in Argentina’s energy matrix, supplying coal for power generation and industrial use.
The privatization process is expected to involve a partial sale, with the state retaining majority ownership while allowing participation from unions and workers. This model aims to balance public oversight with private sector efficiency.
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Privatization of INTERCARGO S.A.U.
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Through Decree No. 198/2025, the National Government authorized the procedure for the privatization of INTERCARGO S.A.U. (the “Company”) through the sale of shares. The Company currently provides ramp and passenger transportation services at 21 airports in the country.
The sale of 100% of the shares will be carried out through a public bidding procedure of national and international scope. In addition, it was established the termination by mutual agreement of the concession agreement entered into between the National Government and the Company for the exclusive operation of the Aircraft Ground Handling Service (RAMPA, after its Spanish acronym), prior to the completion of the sale of the shares.
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More Call for Bids coming soon...
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Bidding for new subway line in Buenos Aires City
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The Buenos Aires City Government has announced a formal bidding process for the development of a new subway line, designated as Line "F".
Over the next 60 days, the Ministry of Infrastructure will release detailed information and terms for this open national and international tender, scheduled for launch in June 2025. Construction is anticipated to commence in 2026, with the first six stations projected for completion by 2031.
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New Opportunities in Vaca Muerta, many companies are open to selling (Exxon's effect)
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Equinor
The Nordic company, Equinor, is seeking to divest its 30% interest in “Bandurria Sur” Area and its 50% interest in “Bajo del Toro Norte” Area, both located in Vaca Muerta Basin, Neuquén, Argentina. The sale process does not include the offshore concessions held by Equinor in Argentina. Bank of America will begin receiving bids from companies interested in its Vaca Muerta assets in the coming weeks.
Petronas
Malaysian oil company Petronas is evaluating its exit from one of the most productive blocks in Vaca Muerta. The company is currently reviewing offers to sell its 50% stake in "La Amarga Chica", where it operates alongside YPF.
Total Energies
The Argentina’s second-largest gas producer, has confirmed the launch of a process to receive offers for its shale oil assets in Vaca Muerta: "La Escalonada" and "Rincón de la Ceniza," both located in northern Neuquén. The French company operates these blocks in partnership with Shell.
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YPF plans to divest its conventional oil & gas fields
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Horacio Marín, CEO and President of YPF, has confirmed the company's intention to sell all its conventional oil and gas fields in Argentina. Starting in 2026, YPF plans to focus its investments exclusively on the development of unconventional assets. This decision could involve the sale of nearly ten (10) additional conventional hydrocarbon blocks.
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Raízen Explores Sale of Dock Sud Refinery and Retail Network in Argentina
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Brazilian company Raízen SA, which operates the "Shell" brand in Argentina, has begun exploring the sale of its Dock Sud oil refinery in Buenos Aires—the country's oldest refinery, with a processing capacity of 100,000 barrels per day. The potential sale also includes its entire network of more than 700 gas-stations, accounting for 18% of fuel sales in Argentina.
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Ban on Live Cattle Exports Lifted
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The Argentine government, through Decree No. 133/2025, has lifted a 50-year old ban on live bovine cattle exports for slaughter abroad.
The decision was justified by emphasizing that lifting the restriction would open new markets for Argentina’s livestock sector (such as the Middle East, North Africa, and Southeast Asia), and is expected to benefit the country's beef industry.
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Vehicles Import Rules Eased
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Through Decree No. 196/2025, the Argentine Government relaxed importation requirements for vehicles and auto-parts. The Decree simplifies the process for obtaining vehicle safety licenses for vehicles with international certifications, particularly from high-regulation countries like the United States, the European Union, and Australia.
This change is expected to reduce administrative costs and speed up the import process for vehicles meeting global standards. Importers are expected to benefit from these regulatory changes through reduced costs and faster permit processing.
For further information, please refer to news@pagbam.com, call (54-11) 4114-3000 or get in touch with us via WhatsApp.
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