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Ten Bidders Enter Judicial Sale for Ex‑SanCor Assets

A record number of companies could revive plants and milk collection only if the court clears the sale and buyers provide binding guarantees for workers and creditors.

Overview

  • Syndics told Judge Marcelo Gelcich on Thursday that ten firms purchased the tender documents and are eligible to submit formal offers for the ex‑SanCor plants and brands.
  • Named interested parties include L3N (Adecoagro), Milkaut, Punta del Agua, Elcor, Failar, Jewell, Finanzas y Gestión, Alimentos Fransro, SanCor Seguros and Fidulac.
  • The judicial sale catalogue values the package of six plants and the brand portfolio at about US$52.1 million and will proceed under Argentina’s concurso/quiebra rules.
  • Fidulac and other creditors have filed legal challenges to aspects of the pliego, meaning court appeals could delay or change the timing and terms of any transfer.
  • Separately, Sudamericana’s planned transfer stalled after ATILRA demanded concrete wage guarantees and Verónica’s three Santa Fe plants remain paralysed with unpaid salaries, a dynamic that will determine whether buyers can quickly restart milk collection and protect local jobs.