Empresa Distribuidora y Comercializadora Norte SA, Argentina’s biggest power distributor known as Edenor, is negotiating the sale of assets to a group led by a former company executive as it seeks funds for debt payments, said a person with direct knowledge of the sale yesterday.
Argentina is increasing the minimum initial capital required to start a business to 100,000 pesos ($21,777), according to a decree published yesterday in the official gazette.
* Argentina’s national statistics institute reports the consumer price index for July on Aug. 10.
* The Buenos Aires Cereals Exchange predicts Argentine farmers will plant 20 percent less corn in 2012-2013 because of government restrictions and drought in some areas, according to an e-mailed statement yesterday.
* The Merval Index rose 1.2 percent to 2,451.69. Petrobras Argentina SA (PESA) increased the most, rising 5.5 percent to 6.13 pesos, while Empresa Distribuidora y Comercializadora Norte SA was the biggest loser, dropping 2.2 percent to 0.76 pesos.
* The peso fell 0.1 percent to 4.5954 per U.S. dollar. In the so-called blue-chip market, the peso rose 1.3 percent to 6.5743 per dollar.
* Securities linked to economic growth rose 0.23 cent to 10.50 cents.
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