Havana's owners will invest USD 300 million in energy infrastructure

In an important announcement for the Argentine energy sector, a consortium of local entrepreneurs and investment funds has acquired majority control of several key companies in the country's electricity distribution and generation.

The operation, which involves a USD 300 million investment, marks the emergence of Edison Energía, a new company led by the Neuss brothers, the Inverlat Investments fund, and prominent entrepreneurs like Rubén Cherñajovsky and Luis Galli.

The conglomerate took control of the Empresa de Distribución Eléctrica de Tucumán (EDET), the Empresa Jujeña de Energía (EJESA), Líneas de Transmisión del Litoral (LITSA), and the hydroelectric generator CEMPSA in Mendoza.

According to a statement from the investment group, the transaction aims to optimize the operational management of the acquired companies, ensure an efficient and sustainable supply, and advance the transition to clean energy.

"We seek to strengthen our regional presence, offering innovative solutions for the current challenges of the sector, with a focus on technological development and sustainability", the document highlights.

The weight of the new players in the sector

Edison Energía is composed of investors with extensive experience in various sectors. The Neuss brothers, for example, already have a presence in the market through the distributor Edersa in Río Negro and the solar energy generator Harz Energy in Córdoba.

Meanwhile, Inverlat Investments, led by Carlos Giovanelli, Damián Pozzoli, Guillermo Stanley, and Federico Salvai, owns the iconic coffee chain Havanna and the oil services company Aspro.

The investment will be allocated to both electricity distribution and transportation through the company Distribución Troncal. The new controllers are expected not only to maintain operations and employment but also to drive investments in technological infrastructure and renewable energy over the next five years.

Reconfiguration of the shareholder map

The acquired companies have changed hands several times in recent years, reflecting the volatility of the sector. The Tucumán-based EDET, for example, was controlled by BAF Capital and then by the fund The Rohatyn Group, linked to former JP Morgan executives.

Meanwhile, EJESA was also in the hands of BAF Capital, which has accumulated assets in strategic sectors, including the dairy company Sancor and the meatpacking company Friar.

Meanwhile, LITSA had as its main shareholders Sideco and the Cartellone group, each holding a 46% stake. Now, with the arrival of Edison Energía, a new phase opens for the sector, with expectations of modernization and growth at the regional level.