Cresud Sociedad Anónima Comercial Inmobiliaria Financiera y Agropecuaria : Sale Agreement to Brasilagro
December 23, 2020 at 06:03 pm EST
Share
The company reported that it has reached a sale agreement with its controlled company Brasilagro.
The company reported that it has reached a sale agreement with its controlled company Brasilagro - Companhia Brasileira de Propriedades Agrícolas ('BrasilAgro'), subject to certain precedent conditions, of 100% of the shares of its indirectly controlled subsidiaries Agropecuaria Acres del Sud S.A., Ombu Agropecuaria S.A., Yatay Agropecuaria S.A. and Yuchan Agropecuaria S.A. owners of approximately 9,900 agricultural hectares in the corn belt of Bolivia. The transaction would amount to approximately USD 30 million (approx. USD 3,300 / ha).
With this sale, the Company continues to promote its regional expansion and consolidation strategy through BrasilAgro, keeping the ownership of its fields in Argentina.
Having consulted the Audit Committee in the terms of Chapter III of the Rules of the National Securities Commission, as well as article 110 Inc. h) Section IV of the Capital Market Law Nº26.831, it has issued an opinion without objections to be made regarding the transaction above mentioned. Such opinion is at disposal of the Shareholders in the corporate headquarters
Attachments
Original document
Permalink
Disclaimer
Cresud S.A.C.I.F. y A. published this content on 23 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 December 2020 23:02:01 UTC
Cresud SACIF y A is an Argentina-based company engaged mainly in telecommunications sector. Through its subsidiaries, it operates two segments: Agricultural Business and Urban Properties and Investment Business, which is divided into: Operations Center Argentina and Operations Center Israel. Agricultural Business focuses on acquiring, developing and exploiting agricultural properties. It is involved in farming activities, cattle raising, leasing land to third parties and perform agency and agro-industrial services, including a meat packing plant. Operations Center Argentina is engaged in the development, acquisition and operation of shopping malls, offices and hotels, among others, in Argentina, and owns selective investments outside Argentina. Operations Center Israel includes real estate activities in Israel and abroad, supermarket chain management and telecommunications services, both locally, as well as is engaged in the insurance, pension and provident funds, among others.
CRESUD SOCIEDAD ANÓNIMA, COMERCIAL, INMOBILIARIA, FINANCIERA Y AGROPECUARIA 
