YPF determined the future controlling shareholder of Metrogas, Argentina’s leading natural gas distributor, following a process led by Citibank that brought together five bidders. José Luis Manzano prevailed through Edenor — a company he shares with Daniel Vila and Mauricio Filiberti — outbidding Central Puerto, MSU, Grupo Pierri, and Litoral Gas.

Manzano already held a 9.23% stake in Metrogas through Integra Gas Distribution, which will give him prior operating experience as he takes control of the company.

With this deal, the group will consolidate control of the leading electricity distributor in northern AMBA together with the country’s leading natural gas distributor, expanding its presence across two of the most significant public utility services in the Buenos Aires metropolitan area. Metrogas serves 2.5 million users and holds roughly 28% of Argentina’s natural gas distribution market.

The company has shown strong improvement in its key indicators: between 2023 and 2025, it doubled its gross profit, quadrupled its operating result, and cut its debt to a third of previous levels.

Source: La Nación