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Cargill, Marex, JDE lost money to fallen Brazilian coffee traders
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Cargill, Marex, JDE lost money to fallen Brazilian coffee traders
Mar 20, 2025 1:22 PM

March 20 (Reuters) - Commodity traders Cargill, Marex ( MRX ),

Olam and Louis Dreyfus, along with the world's largest coffee

roaster JDE Peet's, are among firms that lost money with the

downfall of Brazilian coffee traders Atlantica and Cafebras,

according to court documents.

A list of creditors seen by Reuters, which was filed with

the Belo Horizonte Civil Court by Atlantica and Cafebras with

their combined request for bankruptcy protection, provides

details of about 2.12 billion reais ($375.05 million) in debt

that brought the two companies down. The traders are both owned

by Montesanto Tavares Group.

U.S.-based trader and food processor Cargill is

listed as being owed $18 million. British trader and broker

Marex ( MRX ) is owed $12.8 million, while Olam and

Louis Dreyfus are owed about $5 million each.

JDE Peet's is owed 16.4 million reais ($2.90 million),

according to the list. The list also includes the largest part

of the debt, which is linked to banks that used to finance the

export business of Atlantica and Cafebras.

Marex ( MRX ) declined to comment. Cargill, Olam, Louis Dreyfus and

JDE Peet's did not respond to Reuters' requests for comments.

Some debt details with banks were disclosed in December when

the coffee traders opened a court-supervised negotiation with

them to try, unsuccessfully, to avoid the bankruptcy filing.

On the list seen by Reuters, the local branch of Spanish

bank Santander is owed 159 million reais ($28.13 million).

Local bank Banco Pine is owed 154 million reais.

The largest share of bank debt is with Brazil's state-controlled

Banco do Brasil at $128 million, plus 83.7 million in

the real currency.

Banco Pine and Banco do Brasil declined to comment.

Santander did not respond to a request for comment.

The Brazilian court has yet to decide on the bankruptcy

protection request.

($1 = 5.6526 reais)

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