AySA Returns to Private Ownership for US$340 Million – La Nación | 08/10/26

The Rowing-Arcos-Transclor-PHX consortium, led by Walter Román and including Mauricio Filiberti, submitted the highest bid to acquire 90% of Agua y Saneamientos Argentinos (AySA), offering US$340.2 million, compared with the US$285 million proposed by Roggio ROAS S.A.U. Both bids fell below the US$450 million estimated by the Ministry of Economy, although the leading offer was 19% higher than its competitor’s. Since the tender established no minimum price and both groups passed the technical evaluation, the award will be determined exclusively by the amount offered, placing Román and Filiberti’s consortium in a position to take control of the company once the process is formally completed. The transaction represents the largest privatization under the government’s program in terms of direct revenue for the national government, while the remaining 10% of shares will stay in the hands of employees. In addition to the purchase price, the successful bidder will be required to commit US$1.94 billion in investments during the first five years and US$15.04 billion over the 30-year concession, which expires in 2056 and includes a possible ten-year extension. The targets call for expanding drinking water coverage from 75.3% to 78.9% and sewerage coverage from 63.9% to 65.3% during the first decade. AySA provides services to 14 million people in the City of Buenos Aires and 26 municipalities in the Greater Buenos Aires area. The leading consortium includes Rowing, an engineering and construction company; Transclor, Argentina’s largest chlorine manufacturer and a supplier of inputs to AySA; Arcos Saneamento e Participações, part of Grupo Equipav, which will serve as technical operator and provides water and sewerage services to more than 39 million users in Brazil; and PHX AQUA AR B.V., a foreign-capital investment vehicle. Meanwhile, Roggio has experience operating Aguas Cordobesas and technical backing from Mekorot and Marubeni. The transaction will mark AySA’s return to private ownership after 20 years, following the termination of the French Suez Group’s concession in 2006 under President Néstor Kirchner. Link to Article