BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (BOVESPA:AGRO3) agreed to acquire Agrifirma Brasil Agropecuária S.A. on November 19, 2019. BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (BOVESPA:AGRO3) signed a merger agreement to acquire Agrifirma Brasil Agropecuária S.A. on November 22, 2019. Pursuant to the terms, BrasilAgro will issue 5.2 million new shares to the shareholders of Agrifirma Brasil Agropecuária, other than a specific shareholder. BrasilAgro will issue a subscription warrant in favor of specific shareholder, which will entitle the shareholder to up to 0.65 million common shares of BrasilAgro. Under the terms of the merger agreement, after concluding the merger, the initial exchange ratio will be adjusted to reflect the change in the shareholders’ equity of the companies until the date of the conclusion of the merger. The transaction is subject to fulfillment of certain suspensive conditions including approval from shareholders of Agrifirma and BrasilAgro and from Administrative Council for Economic Defense - CADE. The transaction is approved by the board of BrasilAgro. As of December 23, 2019, the transaction was approved by BrasilAgro shareholders under the terms of the protocol and justification. Additionally, BrasilAgro informs that the Merger was approved by the general superintendence of the Administrative Council for Economic Defense, without restrictions, as per the decision published on December 20, 2019. The proceeding with CADE is still subject to the filling of appeals or call-backs by CADE’s court, within 15 days, as of such publication, in accordance with the applicable legislation. Deloitte Touche Tohmatsu Consultores Ltda. and Apsis Consultoria e Avaliações Ltda. acted as appraisers. BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (BOVESPA:AGRO3) completed the acquisition of Agrifirma Brasil Agropecuária S.A. for approximately BRL 110 million on January 27, 2020. Daniella Raigorodsky Monteiro, Pedro Ardezzoni and Luciano Campos of Tauil & Chequer Advogados acted as legal advisor to Agrifirma Brasil Agropecuária S.A. Flavio Mifano Fernando Amendola, Renata Fonseca Zuccolo Giannella, Rossana Fernandes Duarte of Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados acted as legal advisor to BrasilAgro - Companhia Brasileira de Propriedades Agrícolas. Carlos Vasconsellos of Ferrere acted as legal advisor to BrasilAgro - Companhia Brasileira de Propriedades Agrícolas. The sole pratictioner Apoena Joels also advised Agrifirma Brasil Agropecuária S.A. on the deal.