27067 - AGD

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Summary of Proposed Investment

Project Number

27067

Company Name

ACEITERA GENERAL DEHEZA S.A.

Date SPI Disclosed

Oct 23, 2008

Country

Argentina

Industry

Agribusiness and Forestry

Projected Board Date

Nov 27, 2008

Status

Completed

Sector

Vegetable Fats and Oils

Department

Regional Industry MAS LAC & EUR

Environmental Category

B - Limited

Previous Events

Approved : Jan 9, 2009
Signed : Apr 8, 2009
Invested : Jun 19, 2009

Project Description

Aceitera General Deheza S.A. (“AGD” or the “Company”) is one of the major agribusiness groups in Argentina. AGD core business is the origination and processing of oilseeds and the export of edible oils and meals. The company is the largest exporter of peanuts in Argentina and operates agricultural land. As part of its diversification strategy, the company also produces higher value added consumer products such as refined and bottled vegetable oil, confectionary peanuts, peanut butter, mayonnaise, and soybean milk. The project entails providing a loan to AGD to finance its capital expenditures program and related working capital.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	70.0
Equity

Development Impact

The proposed investment supports the further expansion and diversification of a competitive domestic player, making a contribution to local economic development, through

- job creation, as the company expands in Argentina
- linkages with local farmers and intermediaries in rural areas, who provide inputs to the company
- incremental taxes for the government.

AGD provides farmers with technical assistance, sending agronomists to the producers’ farms, several of them located in the poorer northern part of the country. The project includes the construction of storage facilities to expand its sourcing in marginal rural areas located in frontier provinces, which will benefit farmers located in areas with poor infrastructure. In addition, through its controlled Agroaval SGR (Reciprocal Guarantee Corporation) and structured financial products, AGD facilitates its network of producers access to credit at improved conditions and reduced financial cost.

AGD has a strong corporate social responsibility culture, supporting a variety of social programs in General Deheza, a city of about 10,000 inhabitants and the site of its main plant.

The project is in line with IFC’s strategy to contribute to sustainable economic growth by supporting a competitive family-owned company to expand its operations in Argentina. AGD operates in a priority sector for Argentina and is largely export-oriented. IFC is uniquely able to support growing companies operating under volatile financial markets. Also, through the B Loan program, IFC will be encouraging commercial banks to provide financing with improved terms.

This is a category B project according to IFC’s procedure for Environmental and Social Review of projects because a limited number of specific environmental and social impacts may result that can be avoided or mitigated by adhering to generally recognized performance standards, guidelines, or design criteria. IFC professional staff performed a physical evaluation of the project and environs, and reviewed relevant Company and government documentation.

Contacts

For Inquiries About the Project, Contact

Miguel Acevedo, CFO
Aceitera General Deheza S.A.
Avenida E. Madero 1020, Piso 16
1106 Buenos Aires
Argentina
(5411) 4318-1800

For Inquiries and Comments About IFC, Contact

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IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

Local Access of Project Documentation

Environmental documentation will be made available at the following locations:

1) Municipalidad de General Deheza
Nuestra Señora de la Asunción 51/81 General Deheza
Córdoba, Argentina.

2) Municipalidad de Alejandro Roca
Bv Roca y Dr Carlos Rocha CP 2686
Alejandro Roca Córdoba

3) Municipalidad de Chabas
Rosario 1705 CP 2173
Chabás Pcia de Santa Fe

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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