On January 8, 2025, Argentina’s government announced the privatization of IMPSA, a metallurgical company burdened with significant debt. This marks the first privatization under President Javier Milei’s administration. The American consortium Industrial Acquisition Fund, LLC (IAF) acquired an 85% stake in IMPSA for 27 million dollars, while also assuming approximately 576 million dollars in debt. IMPSA, founded in 1907 by the Pescarmona family, once thrived as a key player in exporting technology across various countries. However, years of financial difficulties led to its decline. The privatization aligns with Milei‘s broader economic strategy to reduce state involvement in businesses and promote private sector efficiency.
January 8, 2025
SOURCE: RIO TIMES
Argentina’s First Privatization Under Milei: IMPSA Sold to American Consortium