Cristóbal López
He is a businessman who founded Grupo Indalo in the city of Comodoro Rivadavia, province of Chubut, in the mid-1990s. He created a transportation company, car dealerships, an oil transport service company, an olive cultivation endeavor, among others. His main activity was casinos and gambling. He then grew his company across the country, mainly in the gambling sector (he owned 20 casinos).
His biggest business accomplishment was the creation of the company Oil Combustibles in 2001. Providing oil transportation, extraction and commercialization services, the company had a sales margin of over USD 20 million in 2015 and set up a network comprised of 340 filling stations.
He entered the media industry in 2011, when he invested in a newspaper (El Patagónico), a radio station (FM Del Mar) and a TV channel (9) in Comodoro Rivadavia, the province where he began to develop his financial empire.
In 2012 the group’s media reached Buenos Aires after purchasing Daniel Hadad’s five radio stations (FM Vale, One, Mega and Pop, and AM Radio 10) and his news channel C5N. These were among the media that received more official advertising from the Argentinian Government from 2012 to 2015.
During the Kirchner’s administrations (2003–2015), Cristóbal López and his Grupo Indalo (where he owns 70% of the stock) benefited from several public tenders and operations with the State, including public works and energy services. López expanded his interests to the food industry, investment funds, consulting agencies, construction companies, oil manufacturing and exportation services, cattle breeding, hospitality and metallurgical plants, among other sectors.
When the current national administration took office in 2015, tax authorities detected that López’s companies were evading taxes worth $8 billion. After several legal proceedings, López was incarcerated. In 2017 Grupo Indalo was involved in a suspicious sale to a fund managed by Ignacio Rosner (OP Investments). However, these ownership changes did not last, and the companies returned to the hands of Cristóbal López and his partner, Fabián De Sousa. Today Grupo Indalo no longer holds interests in the gambling, oil and food sectors. Its main companies are currently managed by official receivers.
Business
Food
Olivares del Sol
Plastic manufacturing
Alcalis de la Patagonia
Oil services and production
Petrolera Cerro Negro
Oil Combustibles
Construction
Oil Construcciones
Magenta S.A.
Esuvial
CPC Constructora
Hospitality
Los Notros
Cattle breeding
Ganadera Victoria
Car retail
Tsuyoi S.A.
Family & Friends
Affiliated Interests Family Members Friends
He is a member of the board of directors of his father’s companies and a racing driver.
He is a member of the board of directors of his father’s companies and a racing driver.
He managed different media owned by Grupo Indalo. He is currently a national senator representing the province of Chubut.
He was Chief of Cabinet of Ministers during Cristina Fernández de Kirchner’s administration (2009–2011 and 2015). He was defending counsel of Cristóbal López and Fabián De Sousa in their civil lawsuits.
Partner of Cristóbal in juice companies established in Buenos Aires, with connections to the political party that helped Mauricio Macri come to power and that rules in the city of Buenos Aires.
Partner of the Kirchner family in a real estate endeavor, he used to own company Agosto S.A., which billed Cristóbal López, its only customer, an amount close to $40 million.
Friend of Cristóbal López, he introduced him to the casino business and purchased Inverclub to him in 2016, when López decided to leave the gambling sector. Through that company, he controls around 20 casinos, which include the country’s most important ones.
Further Information
Headlines
Sources
Becerra, Martín y Mastrini, Guillermo (2017). Medios en guerra: balance, crítica y desguace de las políticas de comunicación 2003-2016. Biblos, Buenos Aires.
Alfie, Alejandro (2015). Los agentes de Néstor y Cristina: los juegos de poder de Sergio Szpolski y Diego Gvirtz para multiplicar el relato oficial, acumular medios y millones, y otros oscuros negocios. Buenos Aires, Margen Izquierdo.
Rafele, Esteban (2013). Los patrones de la Argentina K. Planeta, Buenos Aires.
Gasulla, Luis y Parrilla, Juan (2017). El negocio político de la obra pública: De la patria contratista a Menem. De los noventa a Kirchner. De CFK a Macri. Sudamericana, Buenos Aires.
Becerra, Martín (2015). De la concentración a la convergencia: Políticas de medios en Argentina y América Latina. Buenos Aires, Paidós.
Zunino, Edi (2013). Periodistas en el barro: Peleas, aprietes, traiciones y negocios. Sudamericana, Buenos Aires.
Lacunza, Sebastián (2016). Pensar el periodismo: La crisis de la profesión y los medios analizada desde las redacciones. Ediciones B, Buenos Aires.
Indart, Ramón y Poore, Federico (2014). El poder del juego: El gran negocio de la política argentina. Aguilar, Buenos Aires.