ARSA Raises Vicentin Bid to $3.5m, Overtaking Adecoagro

ARSA, an agro-exporter, has raised its proposal for Vicentin’s dairy business to $3.5m. The revised figure represents a $1m increase on the company’s earlier proposal.

Vicentin is described as a bankrupt dairy company. Its products include the Yogs and Shimy brands, which are among the assets covered by the proposal reported in the article.

The higher ARSA offer places it ahead of Adecoagro’s stated position. Adecoagro has indicated that it would be prepared to pay $3m for the dairy company, putting its stated amount $500,000 below ARSA’s revised proposal.

Adecoagro’s $3m figure has not been presented as a formal offer. The company has expressed willingness to pay that amount, but the report says that it has yet to submit a formal bid.

The reported comparison therefore involves a formal proposal from ARSA that was increased by $1m and a payment level communicated by Adecoagro without a formal submission. ARSA’s revised proposal is valued at $3.5m, while Adecoagro’s stated willingness to pay is $3m.