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Grupo Los Grobo says Brazil IPO will have to wait

Argentina’s leading agricultural conglomerate, Grupo Los Grobo, is keeping its planned initial public offering on stand-by as market conditions are not yet suitable. Los Grobo President Gustavo Grobocopatel said in an interview in the coastal city of Cartagena, where he is attending a hemispheric summit, that the company’s IPO plans on Sao Paulo’s BM&F Bovespa stock exchange remain on hold. “It’s not just a problem of market performance,” he said. “We are looking…
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