Business

Vicentin diverted $800 mn from the sale of 16% of Renova

The agro-exporter diverted some $800 million from the sale of 16% of Renova’s capital stock, the entire Friar meatpacking plant, and the income from exports, which Vincentin sold through third parties when it was already in insolvency proceedings. Meanwhile, Dutch banks, Rabobank, ING and FMO, agree on the accusation of deviation of funds, in this case before the default. The international banks are following in the footsteps of some $400 million that would have disappeared from the firm’s coffers. The Dutch media let know that the default of the agro-exporter will incur in less credit for the pre-financing of exports from Argentina.

Source: Ámbito

Categories: Business