Vicentin Shutters 2 Plants as Bunge Takeover Remains in Balance

Bankrupt Argentine oilseed crusher Vicentin SAIC is stopping operations at its Ricardone and Avellaneda plants, it said in a statement.

• NOTE: Ricardone is a sunflower crushing plant; Avellaneda mainly produces biofuels
• Decision taken as Vicentin fails to reach toll arrangements at the plants with other traders
  • NOTE: Toll arrangements have helped Vicentin survive its bankruptcy protection
• Vicentin hopes to be able to re-open the plants once its legal future is settled
  • NOTE: Vicentin is appealing a court ruling that has put a Bunge-led rescue at risk and opened the door for other takeover bids
  • NOTE: High Court Ruling Hampers Bunge ...