The sale of Metrogas: the Neuss add funds from the Middle East to compete against José Luis Manzano and Central Puerto

Last week, the three companies that are going to participate in the binding instance were met, in a process that YPF granted to Citibank. The oil company will divest its shareholding in the distributor, which is 70% and is prohibited by current regulations, which establishes a limit of up to 49%. The money that YPF obtains, about 500 million dollars, will be used as an investment for Vaca Muerta.

The interested parties are Andina PLCof José Luis Manzano; Central Puertothe largest electricity generator, led by Guillermo Recathe Miguens – Bemberg family, owner of the San Miguel citrus farm and former owners of the Quilmes brewery; and Eduardo Escasany, owner of Banco Galicia; and Neuss Capitalof the brothers Germán, Patricio and Juan Neussclose to presidential advisor Santiago Caputo.

The Neuss managed to associate with Mubadala Capital, the sovereign wealth fund of the United Arab Emiratesand with the Spanish SIA Capitalby businessman Javier López Madrid.

Mubadala Capital has assets of 385 billion dollars and presence in 80 countries across multiple economic sectors, and constitutes the main guarantee for the Neuss to expand their rapid growth in electrical energy now also to the regulated business of natural gas distribution.

In 2025, the Abu Dhabi sovereign wealth fund made investments worldwide of US$39 billion and earned profits of US$38 billion.

All those interested in Metrogas are also part of the process to buy 26% of Transenewhich the national State has for sale.

In that instance, the Neuss are part of the Edison Inversiones consortium – with the owners of Havanna and Newsan – with Genneia – owned by Jorge Brito and David Martínez -; Manzano went with his partners Daniel Vila and Mauricio Filiberti at Edenor; while Central Puerto also presented its offer.

Thus, the “Argentinization of business“, without yet any large multinational or foreign businessman making strong bets. In the hallways of the AmCham Summit at the Buenos Aires Convention Center, a businessman explained to Clarín, with reservation of name, that foreign businessmen “want Javier Milei to win again in 2027” before coming to heavily invest their capital in Argentina.

For this reason, among other things, the association of the Neuss with the Emiratis caused surprise and disbelief in the sector. “If Mubadala goes with the Neuss, I am (Kylian) Mbappé“laughed a source who is not primarily dedicated to football.