BUENOS AIRES (JTA) — Argentine Jewish businessman and philanthropist Marcelo Marcos Mindlin purchased a 67.2 percent stake of Petrobras Argentina for $892 million.
Mindlin, 52, is the head of Pampa Energia, the largest fully integrated electricity company in Argentina. Following the purchase of the stake of the company, which is part of the Brazilian state-run oil giant Petrobras, Mindlin will control a network of 100 fuel stations nationwide and will became one of the main players in the oil and gas market in Argentina.
Mindlin is member of the board of the Jewish Tzedaka Foundation, one of the largest philanthropic institutions in Argentina. Through its diverse programs, the foundation provides direct assistance to 11,000 people in Argentina.
He was the president of the foundation between 2005 and 2007, a position that is now held by his brother Damian, who also is part of Pampa Energia company.
On Thursday, the stocks of Pampa Energia (NYSE: PAM; Buenos Aires Stock Exchange: PAMP) rose 3.9 percent on the Buenos Aires Stocks Exchange, presumably as a result of the announcement.