Know Us

afao the company

afao the company

Our company first named, “Asesores Bursátiles Andalucía Occidental (a subsidiary company of J.P Morgan)”, was incorporated in Spain on July 29, 1988 in Cádiz.

Later it changed its name to «Asesores Financieros Andalucía Occidental. Sociedad Gestora de Patrimonio S.A.» and finally was authorized and registered on Madrid on 2004.

The company has as corporate purpose the following activities:

  • The management and wealth management, portfolio of securities and other financial assets for third parties, advice on financial and business matters and involvement in placing public and private issues.
  • Carrying out brokerage activities in the following activities:
    • Promoting research, development and implementation of all projects and construction of engineering and / or architecture under any type of contract, such as public works contracts, concession contracts, delegated administration.
    • Intermediation in structuring projects, defining the scope thereof, structuring the financing, finding suppliers, grouping them.
    • Participation in the capital construction companies and / or services related to infrastructure in the public and private sector.
    • Management of assets of any nature, custody thereof, exploitation of trust from services provided to companies and financial institutions.
    • Activity of real estate promotion and development of any kind, homes, cottages, farms operating.
    • Intermediary services in the purchase and sale of goods with an emphasis on construction machinery and heavy equipment such as excavators, boats, trucks.


AFAO is the heading of the companies group known as “GRUPO AFAO” on which we can find companies from Argentina and Uruguay. These companies are focused in activities as civil construction, agricultural foresting or dredging services, between others.

The corporate activities are developed total or in part indirectly through the ownership of shares or interests in companies with identical or similar object, either by subscription at the time of its founding or raising capital or through its acquisition by any title

In the chart below are shown the associates companies:


Registration in 1970, Buenos Aires.- The closing date of the last Annual Accounts is 31st December, 2013. Intermediate consolidated financial statements were done on 2014.

It is included in the consolidation by the global integration method.- In 2015 the Company Frontera, is a partner in 33% of the new company DASA s.a in Argentina.

Dasa S.A. signed Easydredge2700 Draga acquisition contract with the Dutch company IHC – 16.4 million euros.

AFAO SA acquires on 2004 the 100% of the shares. In turn BIMPER owns 94,5% of the shares of the company CONSORCIO RUTA UNO, both with its legal seat Uruguay.

The company CONSORCIO RUTA UNO S.A, was awarded a concession contract for public Works since 1998. The concession contract had previously a public international tendering procedure, convened by the Ministry of Transport and Public Works for the Concession of the public Works Route 1: “Double track and the Montevideo –Libertad and new bridge over Santa Lucía river” according to the agreed standards and specifications.

On 2005 it was stipulated “the allegation for the withdrawal effects” of the contract as a consequence and from thereof the concessionary was sent off, the Uruguayan state took compulsive possession of the Concession and cancelled all rights of those.

Such expropriation of the company CONSORCIO RUTA UNO, S.A. sole purpose of the management activity of BIMPER S.A. is the reason why the amounts were provisioned and this company is not included in the group. At year end AFAO does not reflect any value of the investment in BIMPER S.A. in 2004 and since 2008 has accounted the appropriate provisions for 100% of the risk (investments and loans).

Registration in 2008, Buenos Aires. The company owns lands in the Pinamar council, Buenos Aires province, Montecarlo´s health resort. MONTECARLO REAL ESTATE, S.A. has launched preliminary studies for the development in subsequent years a development, fostering an integrated, residential, leisure and marina project, attached to the Municipality of Pinamar.

The participation of AFAO in Montecarlo´s share capital as irrevocable contributions for future share capital increases that we can considered, according to the Spanish Formulation of Consolidated Annual Accounts Norms, as net investment in the company abroad. Therefore it represents 99,9% of the Share Capital.

The closing date of the last Annual Accounts is 31st December, 2013. Intermediate consolidated financial statements were done on the 30th June, 2014.

It is included in the consolidation by the global integration method.

Registration 1997, Buenos Aires. Its main activity is the agricultural and forestry exploitation in the livestock and forestry sector in Argentina. It has in his assets 54.555,37 hectares formed by 40 estates in the Entre Ríos province, Department of Gualeguay, Lechiguanas Islands. The closing date of the last Annual Accounts is 30th June, 2014.

The Lechiguanas Islands are a set of 250,000 hectares. -Deltagro owns 54,000 hectares, 22%

It is included in the consolidation by the global integration method.