Latin America

Argentina cancel soy giant takeover plan amid political pressure

Argentina cancel soy giant Vicentin takeover plan amid political pressure
Photo: PointImages/Shutterstock

When Argentinian President Alberto Fernández took office in December 2019, he was aware of what he was getting himself into. GDP dropping 2.2 percent, yearly inflation at 53.8 percent, urban poverty reaching 15 million, and billions upon billions of foreign debt. These matters have caused some headaches to the new administration, but only now has Mr. Fernández had to deal with the first economic hot potato unrelated to any of his predecessors: the expropriation of Argentina’s major grain exporter Vicentin. 

As a part of Argentina’s most profitable sector — which accounts for 10 percent of the country’s GDP...

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