During the 1990s, SanCor incurred a large debt to finance capital investment. In 1998 the crisis of the dairy market started causing difficulties for the cooperative, which became overwhelming after the collapse of the Argentine economy in 2001. Near the end of 2006, the company was faced with the impossibility of paying up about $167 million. A letter of intent was signed by the firm Adecoagro, partly owned by American financist George Soros. Adecoagro had agreed to provide SanCor with $50 million as work capital plus $70 million to refinance its debt, receiving in exchange the control of 62.5% of the company.