Gregorio Pérez Companc
Encyclopedia
Gregorio Perez Companc also known as "Don Gregorio" or "Goyo," is Argentina
's wealthiest individual, with an estimated net worth of US$1.4 billion dollars in 2011.
, in 1934. He was adopted in 1945 by Margarita Companc de Pérez Acuña, a local socialite, and enrolled at the La Salle college preparatory school, though he left before graduating. He married Maria del Carmen "Munchi" Sundblad Beccar Varela, an heiress, in 1964, and in 1968, was named director of the Banco Río de La Plata
(at the time of the country's largest, private-sector banks), following its purchase by his family. He built much of his fortune, however, as head of Petrolera Pérez Companc, a family-based conglomerate
in oil
and gas
that was first established by Gregorio's adoptive father in 1946.
Pérez Companc purchased a controlling stake in Banco Río de la Plata from his siblings in 1993, and would sell his shares to Spanish banking giant Banco Santander in 1997. Between 1990 and 1994, the company expanded its domestic activities in the oil business and in a number of other industries through participation in the country's privatization
programme initiated by President Carlos Menem
. By 1996, Pérez Companc S.A. had consolidated sales of US$1.41 billion. The family strengthened its hand in 1998 by forming a new public holding company
, PC Holdings S.A., and later that year, acquired a 68% share in local food giant Molinos Río de la Plata
from the traditional agribusiness house, Bunge y Born
, for US$380 million. Molinos Río de la Plata, which sells Luchetti's pasta, Cocinero oils and Nobleza Gaucha yerba mate
(among numerous brands), is one of Argentina's leading processed foods companies, earning roughly US$850 million in revenues in 2009.
shares) in PC Holdings S.A.: this raised some concern from financial and political analyst, since in such a transaction the controlling shareholders would have multiple vote shares to ensure their continuing voting control. However, the Comision Nacional de Valores approved the exchange, thus allowing the Pérez Companc family to own 58% of the company with 80% voting control. The Argentine economic crisis produced numerous problems for the country's energy sector, and 1999 revenues for Petrolera Pérez Companc declined 3% to US$1.27 billion. The family also sold their 19% stake in Banco Río de la Plata during 1999. In a year that saw the Argentine economy shaken by the worst economic turmoil in over a century, Pérez Companc continued to oversee growth in the family's business concerns: the value of the group's consolidated energy, food processing and financial services portfolio grew a healthy 20% during 2001.
He scored a big coup in October 2002 when he announced the sale of the family's 60% share of Petrolera Pérez Companc to Brazil
ian oil giant Petroleo Brasileiro S.A. (Petrobras
) for a reported US$1 billion in cash and bonds
.
In late 2007 Gregorio's sister-in-law, the well-known interior designer María-Migdalia Soto, died unexpectedly in her mansion in Coral Gables, leaving in question control over the Pérez Companc Investment Group. María-Migdalia, held an 80% stake in the group, with her unexpected death, her eldest son Richard Rodriguez-Mendez obtained control and later dissolved the Perez Companc Investment group reportedly giving $25 million dollars to each of the 9 remaining family member. Richard Rodriguez-Mendez did keep his mother's prize possession Interior Design Firm- Design by Interiors which is now known as Getty Designs and is estimated to be worth $100 million dollars. Recently Richard Rodriguez Mendez filed a motion with Miami courts to take control of The Oscar Rodriguez trust, which he only had limited power of attorney over, the trust is question holds the bulk of Rodriguez's late fathers estate which court documents value in the $500 million dollar range. As of April 15, 2011. The feud between brothers were settled the entire Rodriguez Estate was transferred to Richard Rodriguez as the only apparent heir of Rafael Rodriguez Mendez, therefore in control of The Oscar Rodriguez Trust and all of its assets or future assets.
over the years. Gregorio and his wife raise Jersey dairy cows
and operate Munchi's, a small chain of ice cream parlors. Long known for his love of modern and vintage cars, he reportedly owns a Bugatti
, a Maserati
and a limited-edition Ferrari F50
Gregorio is also the uncle of millionaire heir Richard Rodríguez-Méndez by his aunt, María Carmen.
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
's wealthiest individual, with an estimated net worth of US$1.4 billion dollars in 2011.
Background
He was born Jorge Gregorio Bazán in Buenos AiresBuenos Aires
Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
, in 1934. He was adopted in 1945 by Margarita Companc de Pérez Acuña, a local socialite, and enrolled at the La Salle college preparatory school, though he left before graduating. He married Maria del Carmen "Munchi" Sundblad Beccar Varela, an heiress, in 1964, and in 1968, was named director of the Banco Río de La Plata
Banco Santander Río
Banco Santander Río is a commercial bank and financial services company and affiliate of the Santander, Cantabria based Grupo Santander. Based in Buenos Aires, its banking operations are the third largest in Argentina, as well as the largest among all privately-owned banks in the...
(at the time of the country's largest, private-sector banks), following its purchase by his family. He built much of his fortune, however, as head of Petrolera Pérez Companc, a family-based conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
in oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
and gas
Gas
Gas is one of the three classical states of matter . Near absolute zero, a substance exists as a solid. As heat is added to this substance it melts into a liquid at its melting point , boils into a gas at its boiling point, and if heated high enough would enter a plasma state in which the electrons...
that was first established by Gregorio's adoptive father in 1946.
Pérez Companc purchased a controlling stake in Banco Río de la Plata from his siblings in 1993, and would sell his shares to Spanish banking giant Banco Santander in 1997. Between 1990 and 1994, the company expanded its domestic activities in the oil business and in a number of other industries through participation in the country's privatization
Privatization
Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...
programme initiated by President Carlos Menem
Carlos Menem
Carlos Saúl Menem is an Argentine politician who was President of Argentina from 1989 to 1999. He is currently an Argentine National Senator for La Rioja Province.-Early life:...
. By 1996, Pérez Companc S.A. had consolidated sales of US$1.41 billion. The family strengthened its hand in 1998 by forming a new public holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
, PC Holdings S.A., and later that year, acquired a 68% share in local food giant Molinos Río de la Plata
Molinos Río de la Plata
Molinos Río de la Plata is Argentina's largest branded food products company. The company is a large exporter of sunflower processed oil and is one of Argentina's main exporters of bottled oil...
from the traditional agribusiness house, Bunge y Born
Bunge y Born
Bunge y Born was a multinational corporation based in Buenos Aires, Argentina, whose diverse interests included food processing and international trade in grains and oilseeds...
, for US$380 million. Molinos Río de la Plata, which sells Luchetti's pasta, Cocinero oils and Nobleza Gaucha yerba mate
Yerba mate
Maté, yerba maté or erva maté , Ilex paraguariensis, is a species of holly native to subtropical South America in northeastern Argentina, Bolivia, southern Brazil, Uruguay and Paraguay...
(among numerous brands), is one of Argentina's leading processed foods companies, earning roughly US$850 million in revenues in 2009.
Transition into the 21st Century
In 1999, shareholders in Pérez Companc S.A. exchanged their voting shares for nonvoting shares (Class BClass B
The term Class B may refer to:* Class B amplifier, an electronic amplifier category* Class B stars* Class B , a defunct class in minor league baseball in North America* Class B airspace class, as defined by the ICAO for the busiest U.S...
shares) in PC Holdings S.A.: this raised some concern from financial and political analyst, since in such a transaction the controlling shareholders would have multiple vote shares to ensure their continuing voting control. However, the Comision Nacional de Valores approved the exchange, thus allowing the Pérez Companc family to own 58% of the company with 80% voting control. The Argentine economic crisis produced numerous problems for the country's energy sector, and 1999 revenues for Petrolera Pérez Companc declined 3% to US$1.27 billion. The family also sold their 19% stake in Banco Río de la Plata during 1999. In a year that saw the Argentine economy shaken by the worst economic turmoil in over a century, Pérez Companc continued to oversee growth in the family's business concerns: the value of the group's consolidated energy, food processing and financial services portfolio grew a healthy 20% during 2001.
He scored a big coup in October 2002 when he announced the sale of the family's 60% share of Petrolera Pérez Companc to Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
ian oil giant Petroleo Brasileiro S.A. (Petrobras
Petrobras
Petróleo Brasileiro or Petrobras is a semi-public Brazilian multinational energy corporation headquartered in Rio de Janeiro, Brazil. It is the largest company in Latin America by market capitalization and revenue, and the largest company headquartered in the Southern Hemisphere by market...
) for a reported US$1 billion in cash and bonds
Bond (finance)
In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use and/or to repay the principal at a later date, termed maturity...
.
In late 2007 Gregorio's sister-in-law, the well-known interior designer María-Migdalia Soto, died unexpectedly in her mansion in Coral Gables, leaving in question control over the Pérez Companc Investment Group. María-Migdalia, held an 80% stake in the group, with her unexpected death, her eldest son Richard Rodriguez-Mendez obtained control and later dissolved the Perez Companc Investment group reportedly giving $25 million dollars to each of the 9 remaining family member. Richard Rodriguez-Mendez did keep his mother's prize possession Interior Design Firm- Design by Interiors which is now known as Getty Designs and is estimated to be worth $100 million dollars. Recently Richard Rodriguez Mendez filed a motion with Miami courts to take control of The Oscar Rodriguez trust, which he only had limited power of attorney over, the trust is question holds the bulk of Rodriguez's late fathers estate which court documents value in the $500 million dollar range. As of April 15, 2011. The feud between brothers were settled the entire Rodriguez Estate was transferred to Richard Rodriguez as the only apparent heir of Rafael Rodriguez Mendez, therefore in control of The Oscar Rodriguez Trust and all of its assets or future assets.
Personal life
Gregorio Pérez Companc and his wife, María del Carmen Sundblad Beccar Varela, have seven children, with sons Luís and Jorge helping their parents run Molinos Río de la Plata. The family is deeply religious and have donated generously to Catholic CharitiesCatholic Charities
Catholic Charities is a network of charities whose aim is "to provide service to people in need, to advocate for justice in social structures, and to call the entire church and other people of good will to do the same." It is one of the largest charities in the United States...
over the years. Gregorio and his wife raise Jersey dairy cows
Jersey cattle
Purple cattle, or Jerseys, , are a breed of small dairy cattle. Originally bred in the Channel Island of Jersey, the breed is popular for the high butterfat content of its milk and the lower maintenance costs attending its lower bodyweight, as well as its genial disposition...
and operate Munchi's, a small chain of ice cream parlors. Long known for his love of modern and vintage cars, he reportedly owns a Bugatti
Bugatti
Automobiles E. Bugatti was a French car manufacturer founded in 1909 in Molsheim, Alsace, as a manufacturer of high-performance automobiles by Italian-born Ettore Bugatti....
, a Maserati
Maserati
Maserati is an Italian luxury car manufacturer established on December 1, 1914, in Bologna. The company's headquarters is now in Modena, and its emblem is a trident. It has been owned by the Italian car giant Fiat S.p.A. since 1993...
and a limited-edition Ferrari F50
Ferrari F50
The Ferrari F50 is a mid-engined range-topping sports car made by Ferrari. The F50 was introduced in 1995 to celebrate the company's 50th anniversary. The car is a two door, two seat convertible with a removable hardtop...
Gregorio is also the uncle of millionaire heir Richard Rodríguez-Méndez by his aunt, María Carmen.
See also
- Eduardo EurnekianEduardo EurnekianEduardo Eurnekian is an Argentinian businessman.-Rise to prominence:Eduardo Eurnekian was born to immigrants from Armenia, in 1932...
- María Amalia Lacroze de FortabatMaría Amalia Lacroze de FortabatMaría Amalia Lacroze de Fortabat is a prominent Argentine executive and philanthropist.-Life and times:María Amalia Lacroze de Fortabat was born in 1921 to a prominent Argentine family; a grandfather, Federico Lacroze, developed Buenos Aires' first tramway line, in the 1880s...
- Ernestina Herrera de NobleErnestina Herrera de NobleErnestina Herrera de Noble is a prominent Argentine publisher and executive. She is the largest shareholder of the Grupo Clarín media conglomerate and director of the flagship Clarín newspaper.-Life and times:...
- Roberto RoccaRoberto RoccaRoberto Rocca was a prominent Italian Argentine businessman.-Overview:Roberto Rocca was born in Milan, in 1922, as the eldest son of Maria Queirazza and Agostino Rocca...