Argentine Court to Rule on Winning Vicentin Bidder, Clarin Says

An Argentine court will decide on the winning bid for control of Vicentin SAIC after two bidders made competing claims of securing enough support from creditors of the bankrupt Argentine soy export giant, Clarin reported.

Grains brokerage Grassi first announced Friday its restructuring offer met the minimum threshold of acceptance from a majority of creditors representing at least two-thirds of the $1.3 billion worth of unsecured debt in Vicentin, according to the newspaper.

But the rival Molinos Agro and Louis Dreyfus Co. consortium later said they submitted the winning offer and argued that support from Avir South SARL, Commodities ...