Exclusive: Glencore bids $325 million for Vicentin's stake in Argentine soy crusher Renova - sources [Reuters]
GLENCORE PLC UNSP/ADR (GLNCY)
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Source: Reuters
Exclusive: Glencore bids $325 million for Vicentin's stake in Argentine soy crusher Renova - sources BUENOS AIRES (Reuters) - Glencore Plc has bid $325 million for the minority stake in Argentine soy crushing plant Renova held by bankrupt family-owned company Vicentin, two sources close to the negotiations told Reuters. The Swiss commodities trader made an initial offer which expired at the end of March, the people said. It is now preparing to renew that offer, although the global coronavirus pandemic may impact the process, they added. Glencore and Vicentin declined to comment. Renova, with 20,000 tonnes of daily crushing capacity, is one of the world’s top facilities for crushing soy, an all-important industry for Argentina. The South American grains powerhouse is the top exporter of soy-based feed used to nourish pork and poultry in markets concentrated in Europe and Asia. The sector, Argentina’s key provider of export dollars, is critical as the South American country strives to p
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