Adecoagro S.A. acquired the remaining 50% in CHS Agro S.A. from CHS de Argentina S.A.
March 15, 2019
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Adecoagro S.A. (NYSE:AGRO) acquired the remaining 50% in CHS Agro S.A. from CHS de Argentina S.A. on January 14, 2019. The consideration for this operation was nominal. After this acquisition, Adecoagro owns 100% of CHS Agro which has since been renamed as Girasoles del Plata S.A. CHS Agro S.A. had loss before tax of $22.68 million, total assets of $16.57 million and net liabilities of $28 million for the year ended December 31, 2018.
Adecoagro S.A. (NYSE:AGRO) completed the acquisition of the remaining 50% in CHS Agro S.A. from CHS de Argentina S.A. on January 14, 2019.
Adecoagro S.A. is a holding company. The Company is involved in a range of businesses, including farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production and land transformation. The Company is organized into three main lines of business: farming; land transformation, and sugar, ethanol and energy. Its agricultural activities consist of harvesting certain agricultural products, including crops, rough rice and sugarcane, for sale to third parties and for internal use as inputs in its various manufacturing processes, and producing raw milk. Its manufacturing activities consist of selling manufactured products, including processed rice, sugar, ethanol and energy, among others, and providing services, such as grain warehousing and conditioning and handling and drying services, among others. The Company's land transformation activities consist of the acquisition of farmlands or businesses with underdeveloped or underutilized agricultural land.