Grassi Clears Hurdle to Take Over Distressed Argentina Soy Giant

Grassi SA, one of Argentina’s top grain brokerages, cleared what could be the last hurdle to take over distressed exporter Vicentin SAIC, whose assets include a significant stake in the world’s biggest soybean crushing plant.

Judge Fabian Lorenzini dismissed objections led by a Louis Dreyfus Co. venture against the deal that Grassi struck with a majority of creditors holding $1.3 billion of defaulted debt from Vicentin. If finalized, the restructuring could mark the end of a six-year bankruptcy case that upended Argentina’s multibillion-dollar soy industry.