Louis Dreyfus, Molinos Make Joint Offer to Vicentin Creditors

Louis Dreyfus Co. and Molinos Agro have made a restructuring offer to creditors holding $1.3 billion of unsecured debt in the bankruptcy protection case of Argentine soy exporter Vicentin SAIC, according to a joint statement.

• NOTE: Bidders have until the end of the month to reach minimum creditor acceptance thresholds to be able to take over Vicentin
  • The thresholds are more than half the number of creditors representing at least two thirds of the value of the $1.3 billion debt
• NOTE: The joint offer by crop traders Louis Dreyfus and Molinos comes as a rival is already making headway ...