Agrenco Seeks Investors

Agrenco, a Brazilian commodities trader in bankruptcy, has initiated the process to seek outside investors, it says. It has hired an advisor to create “data room” for prospective buyers, though it does not name this advisor and was unavailable for comment. “The company believes that, with the entry of a strategic investor and the implementation of operational capacity at its industrial facilities, the value of the company and of its BDRs will increase significantly, it says. An investment of $10m would allow it to ramp-up operations. Its BDR shares closed at BRL0.29 Monday. Agrenco filed for Bankruptcy protection in 2008.