[REVISION HISTORY]

AySA privatization: Rowing-led consortium wins USD 340M bid

Updated 12 times since CLSTR started tracking revisions of this situation.

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2026-10-09 02:15 UTC → 2026-10-21 17:46 UTC · added ~~removed~~

The Argentine government has moved forward with the privatization of the water utility Aguas y Saneamientos Argentinos (AySA), selecting a consortium led by Rowing S.A., Arcos Saneamento e Participacoes S.A., PHX AQUA AR BV, and Transclor S.A. The group won the bid with an offer of USD 340.2 million, surpassing a USD 285 million proposal from a group led by Roggio Roas S.A.U. Under the terms of the 30-year contract, the winning consortium—which designates Arcos Saneamento e Participações S.A. as the technical operator—will assume AySA’s USD 70 million debt. The group has committed to investing USD 1.94 billion during the first five years and a total of USD 15.04 billion over the full term of the contract. The plan involves transferring 90% of AySA's shares to the private sector, with 10% reserved for employees. Despite the selection, the process remains under scrutiny. Critics have noted that the final sale price fell below the USD 450 million to USD 500 million estimates previously suggested by the Ministry of Economy. Concerns persist regarding the lack of public access to company valuations and environmental liabilities. Furthermore, observers have highlighted that the winning group anticipates a potential USD 93 million annual increase in cash flow through a new user categorization system. These developments follow legal complaints from Unión por la Patria legislators, who allege that valuation methods were altered and appraisals were kept secret to bypass oversight. Legal challenges have also emerged. The La Plata Chamber of Appeals upheld an injunction to prevent the company from modifying essential water supply, public health, or environmental standards. Additionally, legal actions have been filed in federal courts arguing that the bidding terms unfairly exclude provincial state companies and that prioritizing profitability could jeopardize universal access to sanitation.

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