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News

15 JUL

Partial Sale Jatoba Field - Brasilagro

The company published a Material Fact in relation to the partial sale of Jatoba field of its subsidiary Brasilagro

The Company announced today that on July 14, 2020 its subsidiary Brasilagro – Companhia Brasileira de Propriedades Agrícolas (“BrasilAgro”) reported the sale of a fraction of 1,875 hectares (1,500 productive hectares) of Jatobá farm located in Jaborandi, State of Bahia, keeping the ownership of 14,390 hectares.

 

The transaction was set at a price of 300 soybean bags per productive hectare or BRL 45 million, of which BRL 5 million has been already collected. In August BRL 3.5 million will be collected and the remaining balance in 6 annual installments.

 

The fraction sold had a book value of BRL 3.7 million (cost of acquisition plus investments made) and the IRR in BRL reached 14.3%.

 

To date, CRESUD’s direct and indirect stake in BrasilAgro is 33.6% of its share capital.