Deal #773

Location #1

Spatial accuracy level
Administrative region
Location
Bahía, Brasil

Target country
Brazil
Comment on location
Bananal Farm

Land area

Size under contract (leased or purchased area, in ha)
[2009] 11893
[2011] 26948
Size in operation (production, in ha)
[2013] 10000
Comment on land area
Agrifirma and the owners of the Bananal property in Western Bahia signed a revised agreement under which Agrifirma acquired 11,893 hectares outright, with an option to complete the acquisition of the remaining 27,029 hectares exercusable in August 2010. But in October 2011 Agrifirma Brasil acquires 26,948 hectares of the Bananal farm.

Intention of investment

Intention of the investment
Food crops

Nature of the deal

Nature of the deal
Outright Purchase
Comment on nature of the deal
through an option process

Negotiation status

Negotiation status
[2009] Concluded (Contract signed)
Comment on negotiation status
signed in 2009, completed the option in 2011

Implementation status

Implementation status
[2013] In operation (production)

Purchase price

Purchase price
105000000
Purchase price currency
Brazilian Real (R$)
Purchase price area type
for specified area
Purchase price area
38841
Comment on purchase price
Total investment for 4 phases: R$238 mill (including payment for the land).

Number of total jobs created

Jobs created (total)
Yes
Planned number of jobs (total)
643
Comment on jobs created (total)
450 planned jobs between fixed and seasonal

Operating company

Name of investment project
Bananal Farm
Comment on investment chain
Since 2011 the share majority belongs to Brasil Agronegócio FIP. The commercial name is still Agrifirma

 

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Data source #1

Data source type
Media report
File
Date
2011-01-01
Comment on data source
"The Cerrado: Brazil’s other biodiverse region loses ground", by Fred Pearce, Yale e360 | 14 April 2011

Data source #2

Data source type
Company sources
File
Date
2011-01-01

Data source #3

Data source type
Company sources
File
Date
2011-10-30
Comment on data source
Agrifirma Brasil acquires 26,948 hectares of the Bananal farm in western Bahia,

Data source #4

Data source type
Company sources
File
Date
2013-10-30
Comment on data source
(web access) Agrifirma and the owners of the Bananal property in Western Bahia have signed a revised agreement under which Agrifirma has acquired 11,893 hectares outright,

Data source #5

Data source type
Company sources
File
Date
2013-10-30
Comment on data source
Web access - Farm holdings (Bananal Farm)

Data source #6

Data source type
Media report
File
Date
2011-12-09
Comment on data source
Bananal Farm acquisition details

Data source #7

Data source type
Company sources
File
Date
2013-10-30
Comment on data source
(web access) Details for the Enviromental Licence

Former land owner (not by constitution)

Former land owner
Private (large-scale farm)

Former land use

Former land use
Commercial (large-scale) agriculture

Detailed crop, animal and mineral information

Crops area
Corn (Maize), Soya Beans

Use of produce

Comment on use of produce
The land has been licenced for corn and soybean production

Water extraction envisaged

Water extraction envisaged
Yes

Source of water extraction

Source of water extraction
Surface water (River)

Overall comment

Overall comment
The specific farm is Bananal, it belongs to the joint venture Agrifirma Brasil Agropecuária S.A. (ABA S.A.)

Jan. 14, 2016, 9:02 p.m.

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Oct. 30, 2013, 7:50 p.m.

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March 14, 2013, 9:08 a.m.

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Feb. 15, 2013, 5 p.m.

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