Tanoira Cassagne behind agribusiness fund in Argentina
Tanoira Cassagne Abogados has advised all parties involved in the launch of a 10 billion Argentine pesos (US$144 million) investment fund and helped on the fund’s first equity issuance.
The firm advised local financial institution Supervielle as fund manager, agribusiness investor ADBlick Agro in its role as an investment advisor and Banco Comafi as trustee.
Tanoira Cassagne also helped the fund place an initial issuance of shares worth 179 million Argentine pesos (US$2.5 million). The placement agents relied on Tanoira Cassagne too.
Argentina’s securities body Comisión Nacional de Valores (CNV) approved the transaction on 19 June.
The fund, called ADBlick Ganaderia Fondo Comun De Inversion Cerrado Agropecuario, has a six-year term, which can be extended, and a maximum issuance amount of 10 billion Argentine pesos (US$144 million).
Supervielle, which manages the fund on behalf of ADBlick Agro, will invest in small-to-medium sized businesses (SMEs) in the agribusiness industry, particularly livestock companies.
With the fund, ADBlick Agro aims to diversify its portfolio of livestock assets in Argentina. The company hopes that the low interest rates offered by the Argentine peso-denominated fund will attract investors looking for profitable opportunities amid the covid-19 pandemic.
Founded in 2006, ADBlick Agro invests in agro-industrial projects in rural areas of Argentina. It operates investment projects specialising in livestock, fruit and vegetable farming, and renewable energy, among others.
Counsel to ADBlick Agro, Supervielle Asset Management, Banco Comafi, Banco Supervielle, Invertir Online, Cohen and Banco de Galicia y Buenos Aires
Partner Alexia Rosenthal and associates Ignacio Nantes and Mariana Troncoso