The Argentine government has taken another step towards the partial privatization of Nucleoeléctrica Argentina Sociedad Anónima (NASA) by ordering a valuation of its state-owned shares by a public bank and setting a 12-month deadline to finalize the sale, as per Resolution 1751/2025 published this Thursday in the Official Gazette. The Ministry of Economy has officially initiated the process of selling 44% of the company's share package, which operates nuclear reactors, entrusting the Secretariat of Energy with conducting “the inventory of tangible and intangible assets that make up the value of the shares of said society” and with preparing and processing “the tender, technical, corporate, and contractual documentation” corresponding to the process in question. Likewise, the regulation signed by the head of the economic portfolio, Luis Caputo, instructed the Special Temporary Executive Unit “Public Companies Transformation Agency” to “request a public sector entity to value the share package of NASA.” This directive comes after the Nation Appraisal Tribunal stated that “it is currently only able to appraise all types of tangible assets or companies exclusively based on the valuation of their physical assets, due to the fact that it does not have, within its National Valuation Standards, a specific standard that allows it to appraise financial or intangible assets from an income approach.” Furthermore, the aforementioned agency was tasked with finalizing the partial privatization of Nucleoeléctrica Argentina through a public national and international tender “within a 12-month period counted from the entry into force of this measure.” In parallel, the National Directorate of Patrimonial Standardization of the Legal and Administrative Secretariat of the Ministry of Economy was delegated to coordinate the actions necessary for the implementation and administration of NASA's Shared Ownership Program. Within this framework, it was established that the partial sale process of Nucleoeléctrica Argentina S.A.'s share package will be carried out through the CONTRAT.AR platform.
