Cleary Gottlieb represented Agrofina S.A. (Agrofina) and Los Grobo Agropecuaria S.A. (Los Grobo Agropecuaria) in a $50 million export credit facility from Promontoria Holding 318 B.V., an affiliate of Cerberus Capital.
The credit facility closed on November 15, 2019.
Agrofina is headquartered in Buenos Aires, Argentina, and operates in the pesticide, fertilizer, and other agricultural chemical manufacturing industry. Los Grobo Agropecuaria is a family business founded more than 30 years ago and one of the leading producers, traders, and transporters of grains, seeds, grain, fodder, and agricultural products in Argentina. Since 2016, the companies have been controlled by Victoria Capital Partners, a private equity firm focused on investments in South America.