Political Risk Latin America Blog @PolRiskLatam

Asian and Latinamerican corporations buying Argentine assets

Posted in News and Articles by politicalrisklatam on August 13, 2010

by Mercopress, August 13th, 2010.

In the nineties most Argentine companies were purchased by companies with headquarters in New York or Madrid but in this decade they come from less glamorous countries: China, India, Brazil, Russia and unsuspected places such as Mexico, Peru and Colombia.

Only five months ago the Chinese government corporation Cnooc purchased half of Bridas, one of Argentina’s main private hydrocarbons company and thus becoming a relevant player in Argentina’s energy development.

According to a report from Argentina’s consultants abeceb.com, Chinese and Indian companies have already invested over 3.5 billion US dollars in the country confirming what seems to be the “new world economic order” with Asian and Latinamerican companies playing relevant roles when not so long ago it was almost the private turf of US and European corporations.

“The need for these emerging powers to ensure the future provision of commodities and basic inputs to continue to support industrial development as well as feeding their growing populations is pushing them to invest in strategic sectors such as mining, oil, gas, steel and foodstuff”, says Dante Sica abeceb.com director. (continue reading… )


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