PGG Wrightson Limited (NZSE:PGW) signed an agreement to acquire 50% stake in Agrocentro Uruguay on July 14, 2015. The transaction involves an upfront payment and a capped earn out componentof $11.5 million over the next three years based on the performance of Agrocentro Uruguay. For the year ended on December 31, 2014, Agrocentro Uruguay reported revenue of $47.86 million and total assets of $21.57 millionThe settlement date of transaction is August 31, 2015.

Following settlement, PGW and Agrocentro Uruguay will continue operating as they do today, as two separate companies.