The members of Argentinian dairy co-op SanCor have backed the company’s plan to move to sell its stake in a local venture with Arla Foods to the European dairy giant.
SanCor and Arla became equal partners in the Arla Foods Ingredients (AFISA) venture in 2000. The venture has a manufacturing facility in the Argentine province of Córdoba.
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On Friday, Sancor’s general assembly agreed on a plan to sell its 50% share of the business to Arla. The co-op will now hold talks with Arla on a possible deal.
Sources told just-food on Friday (12 January) the transaction could amount to US$33m.
An Arla spokesperson underlined a deal was yet to be struck over the shares.
SanCor’s move is part of plans, approved in May, to reduce debts and restructure.
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By GlobalDataSince 2016, Sancor has sold some of its assets, such as part of its yogurt and desserts business to Argentine company Vicentín.
