Brazil: Amaggi purchase of major grain producer cleared

Grain trading group Amaggi, owned by the current Minister of Agriculture Blairo Maggi, revealed on January 10 its intentions to acquire the Companhia Agricola do Parecis (ciapar)

Amaggi has stated that the purchase of the Matto-Grosso based producer has been approved by the Administrative Council for Economic Defense (CADE), but remains subject to other conditions.
The financial terms of the transaction were not disclosed.

Amaggi said the agreement includes the Italmarati Norte farm, which consists of almost 106,000 hectares dedicated to the production of soybeans, corn and cotton. Founded in 1977, Amaggi is present in all regions of Brazil, as well as in Argentina, China, the Netherlands, Norway, Paraguay and Switzerland.

Full Content: World Grain

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