Millionaire change of shareholding in Perez Companc Group

Hear

The Perez Companc Group today informed the market of a million-dollar reorganization of its shareholding that further narrows the decision-making table to the family and crystallizes Luis Perez Companc’s leadership. The internal and family share restructuring included the sale of all shares held by the three Perez Companc siblings (Jorge, Cecilia and Catalina) to the other three. The buyers are Luis, Rosario and Pilar. They are all children of businessman Gregorio “Goyo” Perez Companca, a great creator. The total cost of the transaction, which affected shares of Pecom, Molinos Río de la Plata and Molinos Agro, amounted to more than 450 million US dollars.

There are seven Perez Companque brothers. Six of them – Pablo has already left the company and lives abroad – they shared 75% of the shares of Molinos Río de la Plata and Molinos Agro and 100% of the shares of Pecom. Now they are all in the hands of three. The remaining shares of 20% belong to Anses and 5% are in the hands of investors. for which they must propose, usually a public offering of shares (OPA), which may change the final numbers. This means that the same agreement that was entered into between the brothers will be available to minority shareholders.

The final amount for which the private agreement was closed is not known, since it is partially classified. Molinos Río de la Plata and Molinos Agro must report these transactions because their shares are listed on the Stock Exchange. Pecom, on the other hand, is not a publicly traded company. The calculation, which shows that the family settlement reached US$450 million, is estimated based on the amount and value of the shares that are transferred from Molinos Río de la Plata and Molinos Agro between the brothers. However, Pecom is not involved in these calculations because shareholders are not required to inform the market about the current value of these securities and, ultimately, the amount of the entire transaction.

The group also owns Conuar, a nuclear fuel cell maker, and Goyaike, a grain, cattle and sheep firm. Nothing will change after the announcement.

On the other hand, it was announced that Molinos Río de la Plata, in addition to continuing its work in the food sector, will expand its focus on mass consumption. In the meantime, Pecom hopes to retain some of the existing deals in the fields that YPF will put up for auction starting June 7 next year.

“As a result of this reorganization, Rosario, Pilar and Luis Pérez Companc will now control the companies Molinos Agro, Pecom and Molinos Río de la Plata,” said a statement sent to the National Securities Commission (CNV) and the stock exchange. “The remaining assets will remain in accordance with their business plans, under the same structure and control,” added text that saves the family’s history in business for more than 80 years.

“With my sisters Rosario and Pilar, we have redefined ourselves and built a new unity based on the values ​​that have always guided us. Because we share the passion and calling to continue to invest in Argentina, to contribute to the growth of our companies, and the value and courage of all of us who make them up.” said Luis Perez Companc, who led the group for many years, in a statement.

“Louis has served as president and director of the companies and has, shall we say, natural leadership,” the company said. NATION. “At this stage, he is accompanied by Rosario and Pilar, and they form a single entity that ensures the continuity of these three companies,” they emphasized about the announced changes.

Until today, all the brothers were boards in the group there is a table of shareholders, where strategic decisions have historically been made. Then there was a satellite world of companies owned holding company, each with its own board of directors and CEO. All professionals outside the Perez Companc family. The president of the group’s board of directors will continue to be Luis Pérez Companc. Neither Pilar nor Rosario will be adding features to control companies (they didn’t currently have any either), despite accumulating more shares and strategic decision-making powers. It follows that after Goyo and then his brothers, the hegemonic turn now belongs to the children’s generation close to 50 years old.

“I am pleased to contact you as a representative of Santa Margarita LLC (hereinafter “Santa Margarita”), the company that owns a controlling stake in the controlling group Molinos Agro SA (hereinafter the “Company”), to inform you that to date Santa Margarita and its members, all members of the Perez Companc family, decided to restructure the family assets. As a result, there was a change in the current composition of the Company’s control group, which at the time of closing of the relevant operations came under the control of Messrs. Rosario Perez Companc, Pilar Perez Companc and Luis Perez Companc. Accordingly, the National Securities Commission (hereinafter referred to as the “Commission”) will be requested to authorize the formulation of a public offer to acquire shares of the Company in accordance with the requirements established by Article 87 of the Capital Market Law No. 26,831 and the regulations. this Commission,” begins the letter addressed to the Stock Exchange and CNV, to which this channel had access.

“It is reported that in accordance with the said rules: (i) The price agreed to be paid for the marketable securities the acquisition of which resulted in the above-mentioned change in the control group of the Company is the equivalent of US$13.2431377 per share of the Company (equivalent to A$12,044.63 per company action). calculated using the Banca de la Nacion Argentine dollar bill sales rate as of May 24, 2024), the stated price is the only (and therefore the highest) agreed upon in any and all concepts for the acquisition of the said current asset. securities within 12 months prior to the date of this Agreement; and (ii) the average price of the Company’s shares during the semester immediately preceding the date hereof, calculated in accordance with the rules of the Commission, is AR$20,499.87 per share of the Company,” it concluded.

The second note describes in detail Mill Rio de la Plata: “The price agreed to be paid for the marketable securities the acquisition of which resulted in the above-mentioned change in the control group of the Company is the equivalent of US$2.47635071 per Company share (equivalent to AR$2,252.24 per Company share). calculated at the Bank of Argentina dollar bill sales rate as of May 24, 2024), the price quoted is the only (and therefore the highest) agreed upon in all respects by the Company. such marketable securities within 12 months prior to the date of this Agreement; and the average price of the shares of the Company during the semester immediately preceding the date of this Agreement, calculated in accordance with the rules of the Commission, is AR$3,276.01 per share of the Company.”

15 years ago, in 2009, Goyo Perez Companc transferred its shares to its children. In 2023, the three companies had a turnover of US$3.5 billion. It was US$1.9 billion from Molinos Agro; US$800 million from Molinos Rio de la Plata and US$800 million from Pecom. It is worth clarifying that Molinos Agro, without the drought, billed (not counting two other companies) approximately $3.5 billion in 2022. The latter has 600 employees, mainly at the San Lorenzo plant. Molinos Rio de la Plata has 2,500, and Pecom has 8,500.

According to what the Group told the media, Molinos Rio de la Plata will continue to look for “opportunities” in the food sector. However, they said they would expand their horizons and start opening businesses in the mass consumer sector, in addition to food. This company was spun off from Molinos Agro in 2016. This latter firm owns one of the largest mills in the country, at San Lorenzo, north of Rosario. This is a soybean milling plant with a capacity of 6 million tons of soybeans per year. This year Argentina will produce about 50 million tons of soybeans. “Overall we are at 12-13% of the population. market share“, This was reported by business sources.

“The challenge for this company is to stay at the forefront of technological innovation and opportunities for scale. To be the most efficient in the industry, you always need to be at the forefront of technology,” explained the Agro Molinos group.

Meanwhile, Pecom is a service provider for upstream an oil tanker resulting from the purchase of Skanska assets in 2015. When a corruption scandal erupts and the Swedish firm decides to leave, Perez Companc Group buys two business units: oil services and construction. The latter was dismantled and the focus was on the energy business. Pecom has already been involved with Petrobras. The firm now offers a “near-total” service to the oil sector, meaning it can take a field and fully exploit it. “In fact, the next step is to advance one link in the value chain and return to operational areas,” he said. they counted in the signature.

“How are we going to implement this? “We are involved in the YPF brownfield project,” they said. “To save any of the freed ones?” – he asked. NATION. “Yes,” they said.

When asked which mature field the state-owned company is interested in the firm from, they responded that they were considering “everything” and indicated that they were in the “final stages” of their assessment. Proposals are due June 7. “We’re putting together a combination of options.” They closed.

Meet the Trust Project