El dilema energético de la Argentina

BUENOS AIRES – L expropiación de casi todas las acciones de la compañía española Repsol en la productora de energía YPF de la Argentina, anunciada en un vehemente discurso por la Presidenta Cristina Fernández de Kirchner, ha disparado las alarmas legales en todo el mundo, En realidad, esa iniciativa no resolverá los problemas energéticos del país, a falta de enormes entradas de inversión en el sector.

Repsol adquirió el control completo de YPF en 1999; en febrero de 2008, transfirió parte de sus acciones al Grupo Petersen, que actualmente cuenta con el 25 por ciento. Actualmente Repsol cuenta con el 57 por ciento y el resto es propiedad de inversores en el mercado de valores. El Gobierno de la Argentina se propone expropiar el 51 por ciento y dejar a Repsol con una participación del seis por ciento.

En la venta de acciones de 2008, los dos accionistas mayoritarios acordaron distribuir al menos el 90 por ciento de los beneficios futuros en efectivo. Esa decisión iba destinada a permitir al Grupo Petersen pagar las deudas a los bancos y al propìo Repsol, contraídas con la compra de acciones, que no pagó inicialmente.

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