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Cristóbal López

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.

Media Companies / Groups
Media Outlets



Olivares del Sol

Plastic manufacturing

Alcalis de la Patagonia

Oil services and production

Petrolera Cerro Negro


Oil Construcciones


Los Notros

Cattle breeding

Ganadera Victoria

Car retail

Tsuyoi S.A.

Family & Friends

Affiliated Interests Family Members Friends

Emiliano López (Son)

He is a member of the board of directors of his father’s companies and a racing driver.

Further Information

Data Publicly Available

ownership data is easily available from other sources, e. g. public registries etc.

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Becerra, Martín y Mastrini, Guillermo (2017). Medios en guerra: balance, crítica y desguace de las políticas de comunicación 2003-2016. Biblos, Buenos Aires.

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