President Kirchner Okays up to 20 Percent Stake in Aerolineas Argentinas

The Argentine state will re-buy up to 20 percent of the airline it privatized in 1990, according to an agreement signed in Madrid yesterday.

The deal reached by Argentina government officials and the Spanish owners of Aerolineas Argentinas reshapes the stock distribution of the airline to allow the state to repurchase a minimum of five percent of the shares and a maximum of 20 percent.

The agreement was signed by Economy Minister Felisa Miceli and Planning Minister Julio De Vido on behalf of the Argentine state and by Horacio Fargosi, CEO of Interivest, the holding that owns Aerolineas Argentinas.

The agreement was the first concrete result of President Nestor Kirchner´s five-day visit to Spain last week.