The Company released a material fact related to a farmland partial sale in Argentina
The Company announces today that it has signed a sale agreement with possession of a fraction of 2,440 hectares of its “San Pedro” farm, which includes 1,950 productive hectares of agricultural activity and its historic property. The farm is located in the Department of Concepción del Uruguay, Entre Ríos province, and was acquired by CRESUD in 2005. After this operation, a remaining surface of approximately 3,580 hectares of the "San Pedro" farm is still owned by the Company.
The total amount of the operation was set at USD 8.6 million, of which USD 6.5 million have already been collected to date. The remaining balance of approximately USD 2.1 million will be paid in 3 installments: USD 0.8 million will be charged at the time of signing the deed of the fraction corresponding to the historic property of the “San Pedro” farm, scheduled for July 2021, USD 0,7 million in December 2021 and USD 0.6 million in December 2022.
The accounting result of the operation amounts to approximately ARS 283 million and will be recognized in the fourth quarter of the 2021 fiscal period.