Empresa Distribuidora y Comercializadora Norte SA ADR (EDN)

YPF has agreed to sell its stake in Metrogas and Metroenergía to Edenor for $780 million. This move allows YPF to reallocate capital and focus on the development of Vaca Muerta, aligning with its strategy to become a global shale energy player. The transaction is pending regulatory approvals from the Ente Nacional Regulador del Gas y la Electricidad.

Bruchou & Funes de Rioja advised YPF S.A. on the sale of its 70% stake in MetroGAS S.A. and 5% in MetroENERGÍA S.A. to Empresa Distribuidora y Comercializadora Norte S.A. (EDENOR). The transaction, which followed a competitive process organized by Citibank N.A., is pending regulatory approval from the Ente Nacional Regulador del Gas y la Electricidad (ENRGE). MetroGAS is a major natural gas distributor in Argentina, while MetroENERGÍA focuses on natural gas commercialization.

YPF has accepted an offer from Edenor to sell its entire stake in MetroGAS and MetroENERGÍA for US$780 million. The transaction includes 70% of MetroGAS and 5% of MetroENERGÍA, marking YPF's exit from these companies as part of its asset reordering strategy. The deal is subject to regulatory approvals, including from the National Gas and Electricity Regulatory Ente (ENRGE).

Clifford Chance advised on the reopening of a US$200 million senior bond issuance by EDENOR, an Argentine company, with a 9.50% interest rate maturing in 2033. The firm represented the initial purchasers BofA Securities, Inc., Banco BTG Pactual S.A. – Cayman Branch, Santander US Capital Markets LLC, UBS Securities LLC, and Latin Securities S.A. This transaction consolidates EDENOR's access to the international capital market and highlights Clifford Chance's active role in Latin American financing operations.

The article provides an earnings forecast for Empresa Distribuidora y Comercializadora Norte SA (EDN), noting its earnings forecast score of 8.00 and ranking 12th in the Electric Utilities & IPPs industry. Based on analysis from 2 analysts, the stock has an average price target of $40.00, with a "Buy" rating, and a potential upside of 57.36%.