Hunan Dakang Pasture Farming, a company of the Shanghai Pengxin group, has paid US$286 million to acquire 57 percent of Brazilian trading company Fiagril Ltd, reported financial news agency Bloomberg.
In a statement, Fiagril Participações, based in the state of Mato Grosso, reported its shareholders had reached an agreement with a Chinese company, whose shares are listed on the Shanghai Stock Exchange, for the sale of a stake in Fiagril, Lda.
Following this deal, Fiagril Ltd. now has three major shareholders – Hunan Dakang Pasture Farming, the founders of Fiagril Participações and Amerra Capital Management.
Fiagril Lda is one of the major Brazilian trading companies buying and selling grain, especially soybeans and corn, which moves and annually exports about 2.5 million tons of goods, has a storage capacity of 1 million tons and 30 subsidiaries in the states of Mato Grosso, Amapá and Tocantins.
Amerra Capital Management LLC is a US investment company specialising in the agricultural sector, focusing on solutions for agricultural enterprises located in the Americas.
In the statement, Fiagril Participações did not mention the size of the stake sold or the value of the transaction. (macauhub/BR/CN)