The Aconcagua Energía oil company changed owners.

Aconcagua Energía changed hands and is now in the hands of the Tango Energy fund , following the signing of a binding agreement involving the transfer of 90% of the company's controlling stake and a capitalization contribution of $36 million. The remaining 10% of the oil company 's shares will remain in the hands of the founding partners, Diego Trabucco (former CEO of the company) and Javier Basso .

The transaction, reported to the CNV, is part of a debt restructuring process for more than US$200 million . The new CEO will be Pablo Iuliano, former CEO of YPF during Alberto Fernández's administration, and the company's future depends on the fulfillment of key conditions: majority creditor support, fresh capital inflows, and financial recovery.

It's worth remembering that Aconcagua Energía's debt covers a broad spectrum of financial commitments. It includes unsecured negotiable bonds for more than US$180 million , distributed in different series denominated in dollars (Hard Dollar and Dollar Linked) and pesos. It also holds bank debt in pesos and dollars, both secured and unsecured, with entities such as Banco Nación, Galicia, Provincia, Supervielle, Santander, and ICBC.

Added to this are promissory notes for US$7.25 million , trade debts with suppliers that include deferred payment checks for almost US$10 million, as well as secured loans and leasing contracts, mostly in pesos.

In Mendoza, it operates the areas of Confluencia Sur, Atuel Norte, Payun Oeste, Chañares Herrados, and Puesto Pozo Cercado.

Aconcagua Energía announced that the process seeks not only to organize its financial commitments, which exceed US$200 million, but also to better position the company to address its development plans in Vaca Muerta and other productive basins in the country.

According to the document filed with the CNV, the closing of the process is subject to the fulfillment of several conditions, including: the adhesion of at least 90% of the capital of each debt class, the closing of a definitive agreement with Vista, and the incorporation of a new investor to complete the planned injection of funds. In addition, the company is seeking a new credit rating for the restructured instruments.