Overview
- Grassi filed a cramdown proposal and says Cargill would provide commercial support focused on crushing and export if its offer prevails, while Cargill confirms only preliminary, strictly commercial talks with no equity involvement.
- Judge Fabián Lorenzini moved the case into the creditor-conformity stage with an October schedule, with the cramdown slated to wrap up around October 15 under the court’s timetable.
- An official expert report places Vicentin’s adjusted net worth near minus US$1 billion, underscoring that share value is negligible and recoveries hinge on the rescue plan rather than equity.
- Vicentin’s plants continue under tolling contracts but face frequent breakdowns and need investment; Grassi advanced roughly US$10–15 million to fund planned stoppages and maintenance.
- Competing qualified bidders include Bunge, Molinos Agro with Louis Dreyfus Company, and Unión Agrícola de Avellaneda, all now seeking statutory majorities by number and capital from a creditor base of roughly 1,500–1,700.