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US$500 million offer for agricultural mega-company arouses suspicion in Paraguay

RIO DE JANEIRO, BRAZIL - An offer placed for one of the largest agricultural companies in Paraguay has raised some questions and suspicions as to who might be behind the millionaire acquisition for around US$500 million. The company in the process of receivership was part of a bank holding company that ultimately filed for bankruptcy and distributed its assets among creditors.

Paraguay Agricultural Corporation (PAYCO) is among the valuable assets part of the structure of the traditional and powerful Portuguese Espirito Santo clan whose multinational empire was founded in 1869 and ended scandalously after cross accusations within the same family . . .

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