The merger between Agroiris and Murgiverde, two large cooperatives in the province of Almeria, has encountered its first obstacle after negotiations between the two entities have stalled due to differences regarding the terms of the union.
According to reliable sources, the problem lies in the representation of both cooperatives in a future assembly. Murgiverde is betting on a weighted vote while Agroiris bets on the 'one partner, one vote' formula.
This disagreement took place at a board meeting on Monday afternoon. By now, they might have held another meeting to reach an agreement that satisfies all parties.
The negotiations continue and this could be the first disagreement to reach a very favorable deal, the representatives stated. The negotiations are not expected to last long, as the goal since the beginning has been to design a structure that will be presented to the respective governing boards and submitted to the partners of both entities in an assembly in June of this year.
Negotiations started when the president of Murgiverde, Antonio Sanchez Baños, met with the general director of Agroiris, Juan Antonio Diaz Planellesis, to analyze the possible merger and put their cards on the table. This merger would benefit both companies, as they have similar dimensions and the crops they market are complementary.