Buenos Aires, December 18 (NA) – After lengthy negotiations, the Civil and Commercial Court of Second Nomination in Reconquista issued a final ruling to approve the immediate transfer of Vicentin S.A.I.C.'s shares to Grassi S.A. The judge, Fabián Lorenzini, who has been in charge of the cereal company's bankruptcy proceedings since February 2020, ordered the company led by Mariano Grassi to follow a series of set conditions. According to the Argentine News Agency, which reviewed the 52-page ruling, this marks the final step in a process that has lasted nearly six years for the company. However, judicial sources indicate that appeals could be filed by those who previously challenged Grassi's bid. In his ruling, Lorenzini stated: 'In its definition, besides rejecting various challenges, Lorenzini established to 'approve the concordat agreement offered by Grassi SA within the framework of the present bailout process, ordering the total transfer of the shares of the debtor company Vicentin SAIC to the offering company, prior to the lifting of the bankruptcy attachment, solely for the purpose of its realization.' He also emphasized: 'Establish the immediate execution of the agreement offered to creditors, for which purposes the offering company Grassi SA must present, within 3 (THREE) days following the notification of this sentence, a detailed schedule setting the dates for compliance with payments and other matters related to the execution of the agreement in all its terms, without prejudice to the conditions established for creditors who have not opted for any particular proposal.' Meanwhile, Grassi stated that the operation 'will provide renewed opportunities for the entire agricultural commercial chain, for customers and suppliers, for the industry, and for institutions linked to the sector'.
