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ASTRA SUBSIDIARY ANTARES NAVIERA FORMS MAJOR SHIPPING CONSORTIUM

 BUENOS AIRES, Argentina, July 2 /PRNewswire/ -- Astra CAPSA (ASTR) - - In the Y.P.F. bidding of June 30, a consortium formed by Antares Naviera (50 percent), Clamar S.A. (15 percent), Ultragas International S.A. (25 percent) and Del Bene SACIF (10 percent) was awarded 70 percent of the shares of a new company that will become the largest private Argentine operating company transporting oil and oil by-products.
 The consortium offered US$41,854,000. The offer is now pending approval from Y.P.F. and the Ministry of Economy.
 The successful bid allows the new company to incorporate the following ships as assets:
 Vessel Capacity
 Jose Fuchs 58,500 tons
 Presidente Arturo Umberto Illia 58,624 tons
 Humberto Beghin 29,250 tons
 Capitan Constante 29,250 tons
 The approximate capacity of the company is 320,000 dead weight metric tons.
 Astra is a major private sector oil producer which has expanded into electricity and natural gas utilities through Argentina's privatization program. Its shares trade in Switzerland as well as on the Buenos Aires Stock Exchange.
 -0- 7/2/93
 /CONTACT: Edmund R. Belak of Georgeson & Co., 212-440-9801/


CO: Antares Naviera, Clamar S.A, Ultragas International S.A.,
 Del Bene SACIF ST: Buenos Aires IN: OIL SU: JVN


LD -- NY057 -- 5743 07/02/93 18:54 EDT
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Publication:PR Newswire
Date:Jul 2, 1993
Words:217
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