Overview
- Ingenios de Tucumán SA closed the deal on December 30 to take over operations of Concepción, the province’s largest sugar mill, acquired from Grupo San Salvador led by Martín Luque.
- Local outlets report a price of about US$100 million for the transaction.
- The purchase covers administration of the Concepción plant and excludes agricultural land in Tucumán as well as the separate Marapa mill.
- Santiago Blaquier resigned from Ledesma’s board before closing to avoid conflicts, and the new company says the project has no corporate, operational or financial ties to Ledesma or Desdelsur.
- Former Ledesma sugar-and-alcohol head Martín Franzini will relocate to Tucumán to serve as general manager and lead the transition.