Los Grobo Agropecuaria seeks 90-day extension in creditor process, explores investor options

Los Grobo Agropecuaria, a major agricultural company, is seeking more time to complete its financial restructuring, having formally requested a 90-day extension of its exclusivity period in its creditor protection process. This extension would allow the company more time to present a viable agreement proposal to its creditors.

Sources from the company indicate that Los Grobo is currently operating at approximately 45% to 50% of its pre-crisis activity level. This translates to working with around 1200 producers and originating about 500,000 tons of grain. Before entering the creditor protection process, the company engaged with approximately 3700 producers.

Despite the ongoing restructuring, the company has seen some positive developments. Its commercial agreement with the Brazilian group AMaggi is reportedly meeting its objectives, and discussions for a potential renewal have begun. Los Grobo is also acquiring new clients, adding between 80 and 85 producers per month, with projections to reach 1500 to 1700 producers by the end of the year. Roughly half of the current business volume comes from producers with whom the company has no outstanding debts from the bankruptcy process.

As the creditor process moves forward, Los Grobo's shareholders are actively evaluating the company's future. Several alternatives are under consideration, including attracting new investors, a partial or complete sale of the company, or hybrid models that combine existing shareholders with new partners. The company's request, if approved, would push the informative hearing from August 27 to February 5, 2027, and extend the exclusivity period's deadline to February 16 of the same year.