Compañía de Cervecerías Unidas (CCU) announced yesterday a three-year investment plan for a total of 4,500 million pesos ($57.48 mn). It will allow the company to double its beer production capacity at its plant in Luján, Buenos Aires. It will also imply the creation of 550 additional jobs, both direct and indirect.
The Radicle Growth, a start-up platform for agricultural and food technology, and Syngenta Group announced four entrepreneurs invited to compete in the virtual competition The Radicle Protein Challenge by Syngenta, on November 2 and 3. The winners will not only receive significant investment but will also have access to the extensive agricultural expertise of Radicle and Syngenta and global agricultural technology networks to advance and promote their technology. The winners will receive $1 million for the first and $250,000 for the second.
Coria Grupo Empresario presents attractive options for investors, in which the design and the different types of projects stand out. In the last quarter of 2020 and 2021, they will launch 1,000 units, with 120 thousand M2 of works among hotels (Dazzler by Windham in Pilar), restaurants, commercial premises and others. Even in the face of the instability of the dollar, the company's clients obtain a return of no less than 30% when they receive their units. On the rental side, properties for conventional rentals achieve a return of between 2.5 and 3.5%.
Following the pandemic, the firm will invest an additional $30 million to enlarge the site where the plant locates to accompany the launch of a new ship in October 2023.
Cresud, one of Argentina’s largest agriculture companies, launched an invitation to holders of its 9% dollar-denominated bonds due this November to exchange them for cash and new bonds with longer maturities, as capital controls prevent it from making the payment on time. The company offer to exchange $44.2 million of the $73.6 million in existing bonds for two new notes paying the same interest in an invitation open from October 26 to November 5, according to a securities filing. One of the new notes will mature in three years, the other in two, adding that the additional 40% of the money will pay back in cash.
Argentine feedlots operator Inversora Juramento said it could raise to 4.1 billion pesos ($52.4 million) in a follow-on share offering to fund its operations, including the acquisition of land and cattle. Inversora Juramento is controlled by Jorge H. Brito, who is also the chairman of Banco Macro.
Ledesma, a company from Jujuy, announced today the sale of 30% of the shares it owned in Glucovil Argentina S.A. (a company dedicated to the wet milling of corn) to the international firm Cargill Southamerican Holdings for $34.5 million. The funds obtained will be used to invest in its Genesis XXI plan (to increase competitiveness and promote the growth and innovation of the company) and to reduce liabilities.
The board of directors of Morixe, a company with more than 100 years of experience in the food industry, informed that they approved a new increase in its capital by 60 million shares for 14 pesos per share for a total of 840 million pesos ($10.75 mn). In the last three years, Morixe multiplied by ten its volume of operations and its projected sales for 2020 are equivalent to $90 million.
In a few days, the history of Templeton in Argentina will end. If everything goes as the government thinks, next week the $750 million auction operation of the international fund that bet more than $3 billion in the country will end, it will only remain with some marginal placement.
Keclon, an Argentine biotechnology company focused on the edible oil, food, biodiesel and animal nutrition industries, is committed to growth. The firm obtained an investment of $7 million and will invest it in opening its industrial plant in early 2021. The investment received will help them boost the development and commercialization of enzymes for an industry that reduces the environmental impact of the industrial processes used: They are 100% biodegradable, save energy and reduce the consumption of water and other essential resources.