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BrasilAgro (AGRO3) sells farmland in Goiás for R7.8 million

BrasilAgro (AGRO3) sells farmland in Goiás for R$417.8 million

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An agricultural real estate company completes the sale of its investment in the Araucaria farm, which generated total revenues of R$602 million.

Riccardi Tough




Araucaria farm, owned by BrasilAgro: Real estate generated revenues of R$602 million (Disclosure)

Araucaria farm, owned by BrasilAgro: Real estate generated revenues of R$602 million (Disclosure)

BrasilAgro (AGRO3) announced on Tuesday (11) that it had negotiated the remaining parts of a farm in its possession in Goiás for R$417.8 million.

Acquired by the company in 2007 for R$ 76 million, the Araucaria farm located in the municipality of Mineros (GO), brought a total of R$ 602 million to the company, with an internal rate of return (IRR) for the project consolidated in SAR. 16. Two%.

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Areas of the property were negotiated in seven different contracts, and the first sale took place in 2013. This Wednesday, the company sold the 5,185-hectare estate for R$409.3 million, with an estimated two-year payment period. Another part, with an area of ​​332 hectares, will bring in R$ 8.5 million, which will be paid in more than two years.

“These sales are another milestone for the company, as they close the cycle for this property within our portfolio, and confirm our ability to generate and utilize value in agricultural real estate development,” BrasilAgro CFO Gustavo Lopez said in a note. send me Infomoney.

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Since the beginning of its activities in 2006, BrasilAgro has purchased 320,000 hectares of land throughout the country, with an investment of approximately R$1.2 billion. In all, 26 farms were negotiated, with an area of ​​103 thousand hectares, and a turnover of R$ 2.2 billion.

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BrasilAgro indicates that since the beginning of the company’s operations, in 2006, it has purchased 320,000 hectares, including 211,000 useful hectares, and has developed more than 140,000 hectares.

According to BrasilAgro, all sales were made at prices above the book values ​​and fair value stated in the explanatory notes available annually in the financial statements. Divestments resulted in an unsupported IRR of between 13.6% and 56.5%.

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