Sanalp tenders for all Compania de Alimentos Fargo 13¼% notes due 2008

By Jennifer Chiou

New York, Sept. 8 - Madera LLC said affiliate Sanalp 2005, SL launched a cash tender offer for any and all of Compania de Alimentos Fargo SA's outstanding 13¼% notes due 2008.

The company also is soliciting consents from holders of at least 80% of the notes to provide approvals of a plan of reorganization to allow it to restructure its debt.

Those who tender their holdings before the consent deadline of 5 p.m. ET on Oct. 6 will receive the consent payment of $40.00 per $1,000 principal amount of notes.

The offer expires at 5 p.m. ET on July 1, 2006, unless extended.

The company will pay $180.00 per $1,000 principal amount of notes, including the early tender payment.

Goldman, Sachs & Co. is the dealer manager and solicitation agent (800 828-3182 or call collect 212 357-3019).

The information and tender agent is Bondholder Communications Group (888 385-2663 or call collect 212 809-2663).

Madera LLC, controlled by investor Fernando Chico Pardo and Grupo Bimbo SA de CV, owns more than 99.9% of Compania de Alimentos Fargo, a producer and distributor of packaged bread and bakery products in Argentina.

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