Jan. 30, 2008
A US investment fund has acquired the Argentine agrochemical production company, Ipesa (Buenos Aires). The company has confirmed news of the sale but not divulged the identity of the new owner. The whole company was sold and the previous owner, Iglesias Perez no longer has any relationship with Ipesa, the company said. The entire firm and all its assets, including personnel, have been transferred to the new owner, ensuring an ordered transition and continuity of activity, it added.
Ipesa had an extraordinary meeting in November last year, at which it appointed a new president, Santiago Born, and vice- president, Pablo Colombres. National media reports say that the new executives are the US fund's representatives. The company has four agrochemical production plants and its sales reached $57 million in the year to June 2006.