SCP sells stake in french fries venture

SCP sells stake in french fries venture

Corporate & Sovereign Strategy M&A Argentina United States

Argentine holding company Sociedad Comercial del Plata (SCP) said Wednesday that a wholly owned subsidiary sold its 40% stake in a french fries venture to US food processing company Lamb Weston for $42 million, which also took an option to buy another 10% for $10.5 million. The deal takes Idaho-based Lamb Weston's share in the venture to 90%, according to a securities filing. If Lamb Weston exercises the option for the other 10%, it will have control of the Lamb Weston Alimentos Modernos venture

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