Bunge’s Rescue of Huge Soy Supplier Rests With Argentine Court
- Provincial judges are expected to rule on Vicentin bankruptcy
- Decision on case has significance for global soy trading
A combine harvester cuts through a field of soybean plants in San Jose de la Esquina, Argentina.
Photographer: Natalia Favre/BloombergThis article is for subscribers only.
A top court in Argentina is set to decide whether crop giants Bunge Global SA and Viterra Inc. will be allowed to take over a company that was once the crown jewel of the country’s massive soybean-processing industry.
The ruling on Vicentin SAIC is expected as soon as this month and has broad significance for global soy trading, since Argentina is the largest supplier of processed meal and oil. A go-ahead for a plan to rescue Vicentin, which filed for bankruptcy protection nearly five years ago, would further solidify Bunge-Viterra’s share of world soy-crush capacity. Meanwhile, a rejection would throw open an opportunity for competing proposals.