Argentina’s second- biggest soybean producer Los Grobo, plans to transfer some assets to a new company and sell shares of the business in an initial public offering in Brazil.
The company will be called LG Agronegocios & Participacoes SA, according to a regulatory filing Wednesday. Los Grobo, which produces soybeans, corn, wheat and sugar in Brazil, Argentina, Uruguay and Paraguay, didn’t provide details on the timing or value of the offering.
Los Grobo follows other agricultural companies in Brazil and Argentina seeking to tap stock markets. Adecoagro SA, a farm company with headquarters in Argentina and operations in Brazil, held its IPO in New York in January, and closely held Saladillo, Argentina-based El Tejar, the world’s biggest grains producer, said it may hold an offering as early as 2012.
Earlier this month, BrasilAgro - Cia. Brasileira de Propriedades Agricolas cancelled its plans to sell additional shares after it said market conditions “deteriorated”.
Argentina’s Grobocopatel family and Brazil’s Grupo Vinci Partners, an investment company set up by former Banco Pactual SA partner Gilberto Sayao, are among shareholders in LG Agronegocios.
Credit Suisse Grupo AG, Banco Itau BBA SA, Banco BTG Pactual SA and Banco Bradesco BBI SA will handle the offering.
Top Comments
Disclaimer & comment rulesThousands of foreign companies seeking to expand their global footprint, while obtaining needed commodities to sustain growing food demand, recognize the strong potential for growth in the region. Furthermore, many governments, like China, India, Russia and Kuwait, are encouraging movement into South America through the signing of multiple regional Free Trade Agreements. India is currently a member of Mercosur.
Jun 02nd, 2011 - 02:20 pm 0Since potentially higher returns are possible in emerging markets, where entry values are low or agricultural production is currently underperforming. Thus, farm areas in Eastern Europe, Africa and specially South America have become hotspots for farmland investing. These countries stand out as having the best potential for direct investment for those with a three year investment horizon.
Here´s a great post about it from the Gateway to South America´s newsblog: http://wp.me/pXSEX-2C9
Contact the Gateway to South America team (http://wp.me/pXSEX-2C9) to learn about the best investment opportunities in the region. The company is a benchmark for foreign investors wishing to invest in Argentina, Brazil, Uruguay and Chile, providing expert advice on property acquisition and investment tours.
And Cristina de Kirchner said that Soy was just a weed haha
Jun 02nd, 2011 - 05:04 pm 0GOOD EVENING FROM ARGENTINA... SUCKERS ;-)
Jun 02nd, 2011 - 06:20 pm 0Big news today:
E. COLI OUTBREAK IN EUROPE
http://www.bbc.co.uk/news/world-europe-13626964
Get with the program Mercopress, post an article... oh and don't forget to include notes from our European experts on their “higher standards” and their reasons for being against the EU-Mercosur agreement, will ya?
Cheers!
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!