The Company released a material fact related to its subsidiary Brasilagro
The Company informs that its subsidiary Brasilagro - Companhia Brasileira de Propriedades Agrícolas (“BrasilAgro”) has concluded yesterday a public share offering for a total amount of approximately BRL 500 million by issuing 20 million shares in a primary offering and 2.73 million in a secondary offering.
The company participated in the primary issuance by acquiring, directly or through subsidiaries, 6,971,229 shares. The consideration for the shares was materialized with the sale, which agreement was informed to the market on December 23, 2020, of 100% of the shares of its indirectly controlled subsidiaries, Agropecuaria Acres del Sud SA, Ombu Agropecuaria SA, Yatay Agropecuaria SA and Yuchan Agropecuaria S.A. owners of approximately 9,900 agricultural hectares in the corn belt of Bolivia.
With this sale, the Company continues to promote its regional expansion and consolidation strategy through BrasilAgro, maintaining ownership of its farms in Argentina.
After this transaction, CRESUD's stake in Brasilagro, net of treasury shares, increased from 33.8% to 34.1% of its capital stock.