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ES
Distressed trader’s soy can feed pigs in Argentina, suitor says
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Buenos Aires Times
A key suitor for the assets of Vicentin SAIC, a distressed trader that was once Argentina’s top exporter of soy meal, wants it to feed pig herds at home rather than only crush beans to ship to livestock in Asia.
They’ll have competition from Grassi SA, a grains brokerage in Argentina’s main export hub that holds Vicentin’s distressed debt.
Vicentin’s assets include a 33-percent stake in the world’s biggest soy plant, in Rosario, which can process more than 30,000 metric tons of beans a day.
Argentina, the world’s number one supplier of soy meal, currently exports nearly all of its production, much of it to feed farm animals in Vietnam and Indonesia.
Grassi also revealed some of the terms he is preparing to offer to hundreds of crop suppliers who own Vicentin’s defaulted debt.
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