Overview
- YPF authorized Citigroup to solicit offers for its controlling interest in Metrogas, targeting proceeds above $700 million.
- Citi has begun signing confidentiality agreements with local and international prospects to open a data room for due diligence.
- An extension of Metrogas’s distribution concession to 2047 is expected but still requires final approval from the Procuración del Tesoro.
- Metrogas reports annual revenue above $800 million, EBITDA near $150 million, more than 2.4 million customers, and a market capitalization around $1.1 billion.
- The divestment aligns with YPF’s focus on Vaca Muerta, would unwind a temporary Gas Law waiver on producer control of distributors, and is viewed as a barometer of investor appetite for regulated assets.