ARGENTINA DAYBOOK: Edenor Said to Negotiate Sale of Assets

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.

ECONOMY/COMMODITIES:

* 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.

EQUITIES:

* 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.

MARKETS:

* 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.

To contact the reporter on this story: Camila Russo in Buenos Aires at crusso15@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.