EXHIBIT 8.1
LIST OF SUBSIDIARIES
The following table lists our subsidiaries and their jurisdiction of incorporation as of June 30, 2023:
| Name of the entity |
| Country |
| Main activity |
| Stake at 06.30.2023 |
| |
| IRSA's direct interest: |
|
|
|
|
|
|
| |
| E-Commerce Latina S.A. |
| Argentina |
| Investment |
|
| 100.00 | % |
| Efanur S.A. (3) |
| Uruguay |
| Investment |
|
| - |
|
| Hoteles Argentinos S.A.U. |
| Argentina |
| Hotel |
|
| 100.00 | % |
| Inversora Bolívar S.A. |
| Argentina |
| Investment |
|
| 100.00 | % |
| Llao Llao Resorts S.A. (1) |
| Argentina |
| Hotel |
|
| 50.00 | % |
| Nuevas Fronteras S.A. |
| Argentina |
| Hotel |
|
| 76.34 | % |
| Palermo Invest S.A. |
| Argentina |
| Investment |
|
| 100.00 | % |
| Ritelco S.A. |
| Uruguay |
| Investment |
|
| 100.00 | % |
| Tyrus S.A. |
| Uruguay |
| Investment |
|
| 100.00 | % |
| U.T. IRSA y Galerias Pacifico (1) |
| Argentina |
| Investment |
|
| 50.00 | % |
| Arcos del Gourmet S.A. |
| Argentina |
| Real estate |
|
| 90.00 | % |
| Emprendimiento Recoleta S.A. |
| Argentina |
| Real estate |
|
| 53.68 | % |
| Fibesa S.A. |
| Argentina |
| Real estate |
|
| 100.00 | % |
| Panamerican Mall S.A. |
| Argentina |
| Real estate |
|
| 80.00 | % |
| Shopping Neuquén S.A. |
| Argentina |
| Real estate |
|
| 99.95 | % |
| Torodur S.A. |
| Uruguay |
| Investment |
|
| 100.00 | % |
| EHSA |
| Argentina |
| Investment |
|
| 70.00 | % |
| Centro de Entretenimiento La Plata |
| Argentina |
| Real estate |
|
| 100.00 | % |
| We Are Appa S.A. |
| Argentina |
| Design and software development |
|
| 98.67 | % |
| Tyrus S.A.'s direct interest: |
|
|
|
|
|
|
|
|
| DFL and DN BV |
| Bermuda’s / Netherlands |
| Investment |
|
| 99.59 | % |
| IRSA International LLC |
| USA |
| Investment |
|
| 100.00 | % |
| Jiwin S.A. (3) |
| Uruguay |
| Investment |
|
| - |
|
| Liveck S.A. (2) |
| British Virgin Islands |
| Investment |
|
| 100.00 | % |
| Real Estate Strategies LLC |
| USA |
| Investment |
|
| 100.00 | % |
| Efanur S.A.'s direct interest: |
|
|
|
|
|
|
|
|
| Real Estate Investment Group VII LP (REIG VII) (3) |
| Bermuda’s |
| Investment |
|
| - |
|
| DFL's and DN BV's direct interest: |
|
|
|
|
|
|
|
|
| Dolphin IL Investment Ltd. |
| Israel |
| Investment |
|
| 100.00 | % |
______________-
| (1) | The Company has consolidated the investment in Llao Llao Resorts S.A. and UT IRSA and Galerías Pacífico considering its equity interest and a shareholder agreement that confers its majority of votes in the decision-making process. |
| (2) | Includes Tyrus’ and IRSA S.A.’s equity interests. |
| (3) | Liquidated in October 2022. |