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    MOLA   ARMOAG300023

MOLINOS AGRO S.A.

(MOLA)
  Report
End-of-day quote. End-of-day quote Buenos Aires Stock Exchange - 07/30
894 ARS   -4.28%
06/09Molinos Agro S.A. Reports Earnings Results for the Full Year Ended March 31, 2021
CI
05/13Vicentin in Talks to Sell Majority Stake
CI
05/13Argentine soy crusher Vicentin in talks to sell majority stake
RE
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Argentine soy crusher Vicentin in talks to sell majority stake

05/13/2021 | 03:47pm EDT

BUENOS AIRES, May 13 (Reuters) - The once-mighty but now cash-strapped Argentine soy crusher Vicentin said on Thursday it is starting talks to sell a majority stake to export firms Viterra, Molinos Agro and Argentine cooperative ACA.

Argentina is the world's No. 1 supplier of soymeal feed, used to fatten hogs and poultry from Europe to Southeast Asia. And family-owned Vicentin was the country's top exporter of soy byproducts before falling into bankruptcy in 2019.

"A majority group of Vicentin shareholders have accepted a non-binding expression of interest presented by three companies, with extensive experience in the industry, to evaluate the possibility of acquiring a majority stake," Vicentin said in a statement.

It added that the three parties had jointly expressed their interest in a possible acquisition.

Last year the government proposed taking the company over, but dropped the plan after an outcry from the local farm sector.

The purchase by Viterra, ACA and Molinos would involve months of due diligence with a deal needing approval by shareholders, Vicentin's bankruptcy judge and the company's creditors. When it ran out of cash, Vicentin left farmers and banks holding more than $1 billion in bad debts.

Creditors accused Vicentin of having used credits destined for the purchase of grains to finance other businesses. Vicentin denies any wrongdoing.

Viterra, a unit of Glencore Agriculture, owns 67% of crushing plant Renova. Located on the banks of the Parana River, near the Argentine grains port hub of Rosario, Renova is one of the biggest soymeal and soyoil manufacturing facilities in the world. The rest of the Renova plant is owned by Vicentin.

The other major asset Vicentin is selling is its San Lorenzo plant, which has a crushing capacity of 4.5 million tonnes of soybeans per year.

(Reporting by Hugh Bronstein; Editing by Leslie Adler, Alistair Bell and Richard Chang)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADLER GROUP S.A. 3.62% 21.2 Delayed Quote.-29.45%
EURO / ARGENTINE PESO (EUR/ARS) 0.21% 114.9932 Delayed Quote.11.61%
GLENCORE PLC 1.93% 328.9 Delayed Quote.38.86%
MOLINOS AGRO S.A. -4.28% 894 End-of-day quote.32.64%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.09% 96.77 Delayed Quote.14.99%
All news about MOLINOS AGRO S.A.
06/09Molinos Agro S.A. Reports Earnings Results for the Full Year Ended March 31, ..
CI
05/13Vicentin in Talks to Sell Majority Stake
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05/13Argentine soy crusher Vicentin in talks to sell majority stake
RE
02/02Molinos Agro S.A. Reports Earnings Results for the Third Quarter Ended Decemb..
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2019EXCLUSIVE : China to inspect Argentine crushers, could unlock No. 1 soymeal mark..
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2019EXCLUSIVE : ADM CEO says wrong time for 'monster' acquisitions
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2019Molinos Agro S.A. acquired 33% stake in Patagonia Bioenergía Holding 1, SL an..
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2018EXCLUSIVE : Agribusiness giant ADM made buyout approach to Argentina's Molinos &..
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More news
Financials
Sales 2022 252 B 2 611 M 2 611 M
Net income 2022 - - -
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 43 742 M 452 M 452 M
Capi. / Sales 2022 0,17x
Capi. / Sales 2023 0,12x
Nbr of Employees -
Free-Float 99,6%
Chart MOLINOS AGRO S.A.
Duration : Period :
Molinos Agro S.A. Technical Analysis Chart | MOLA | ARMOAG300023 | MarketScreener
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Last Close Price 894,00 ARS
Average target price 980,00 ARS
Spread / Average Target 9,62%
Managers and Directors
Pablo Oscar Noceda Chief Executive Officer
Julio Horacio Aranguren Chief Financial Officer
Luis Perez Companc Chairman
HÚctor Omar Mazany Chief Operating Officer
Verˇnica Curci Chief Legal & Compliance Officer
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