Metrogas subsidiary Gas Argentino announces termination of restructuring agreement

By Caroline Salls

Pittsburgh, May 16 - Metrogas SA parent Gas Argentino SA said Marathon Master Fund Ltd. and Marathon Special Opportunity Master Fund Ltd. have decided to terminate a Dec. 7, 2005 debt restructuring agreement, effective May 19.

According to a news release, the parties to the restructuring agreement included Gas Argentino, BG Inversiones Argentina SA, YPF Inversora Energética SA, Ashmore Emerging Markets Debt Fund, Asset Holder PCC Ltd. Re Ashmore Emerging Markets Liquid Investment Portfolio, Ashmore Global Special Situations Fund Ltd. and the Marathon entities.

Gas Argentino said it is evaluating its next course of action in light of the termination.

Metrogas is a Buenos Aires gas company.

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