April 5, 2022 |
Argentine energy and cement producer Petroquímica Comodoro Rivadavia (PCR) said it has reached a deal to sell a 49% stake in Generación Eléctrica Argentina Renovable (GEAR) to Acindar, a unit of Luxembourg-based steel producer ArcelorMittal, for an undisclosed amount.
PCR, which will retain the other 51% of GEAR, said it will use the proceeds from the sale to finance the construction of a wind and solar power park in the central-western province of San Luis, according to a securities filing. The
Argentine energy company sells 49% stake in GEAR to the local unit of Luxembourg-based steelmaker ArcelorMittal