Argentina. Other holdings Los W Group is a private holding company that owns and manages a well-diversified portfolio of companies in Argentina, with total revenues of approx. US$4,2 Bn and 21.500 employees. During the 20th century, the Group has successfully invested in agribusiness, telecommunications, financial services, gas and energy distribution, oil & gas, textile, vineyards and real estate. Los W has become a very prestigious and well-known group within the business community as a consequence of its strong local presence, excellent track-record, experience in several industries, and a persistent low profile. The Group strongly believes in its successful strategy based on the combination of international first tier institutional investors or a strategic player in partnership with a local prestigious and experienced group (i.e. Leucadia and Generali in Caja de Ahorro y Seguro; Telecom Italia in Telecom Argentina and Standard Bank in Standard Bank Argentina). Family business history Leon Werthein emigrated from Russia in 1904 and came to Argentina, following difficult times in that empire, especially for Jewish people. The family settled in the countryside and started out a living from scratch, and fifty years later moved to the city to provide for the education of the children and the growth of the business. It is important to note that the growth of the family lead to two different processes of family separation. The first one was in 1973 and the second one in 1992. The descendants of Noel Werthein plus one cousin constitute what today is the W Group, heirs of the original family business. 1904: Leon Werthein arrives to Argentina, settling down in Riglos (Province of La Pampa). 1928: Three of Leon’s sons, Gregorio, Numo and Noel, created a company dedicated to manage agribusiness. 1959: Foundation of Gregorio, Numo and Noel Werthein (“GNNW”), which consolidates and manages the agribusiness investments of the Group. Nowadays, GNNW owns land in the provinces of Buenos Aires, La Pampa, Santa Fe and San Luis. 1963: Acquisition of Banco Mercantil Argentino, first investment in the banking sector. 1965: Creation of Citrex, a citric producer in the Provinces of Misiones, Formosa and Tucuman. 1970: Acquisition of Industrias del Vestir Argentino (“IVA”), the largest wool manufacturer company in Argentina. 1979: Divestiture of Citrex. 1980: Acquisition of Finca Flichman, a vineyard with more than 100 years, in the Province of Mendoza. Since 1990, Los W Group has been involved in the following transactions, among others. 1992 -