The cooperative said it held an extraordinary assembly last week, at which it was discussed and decided, as the only item on the agenda, to move forward in the negotiations to sell all its 50% of shares to Arla.
AFISA was established in 2000, by SanCor and Arla, with the goal being the industrialization and marketing of whey proteins.
The company has a specialized industrial plant in the town of Porteña, in Córdoba.
SanCor said the sale was a part of its plan, approved in May 2017, to restructure its operations.
SanCor employs 3,600 workers in its eight plants around Argentina. In 2016/17, the cooperative’s milk production volume was more than 900m liters.
The company sells butter, cheese, milk powder, dulce de leche, refrigerated milk and formulas in domestically, as well as to Africa, Asia, the US, Russia, and the rest of Latin America.
SanCor has partnerships with other companies including Mead Johnson Nutrition and Vicentin Family Group.