Published:
Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria Announces Investment in Bolivia Farmland
BUENOS AIRES, Argentina, Nov. 20 /PRNewswire-FirstCall/ -- Cresud Sociedad
Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria (the "Company")
(Nasdaq: CRESY) reported today to the Argentine Comision Nacional de Valores
and to the Buenos Aires Stock Exchange that it agreed the purchase of
approximately 7,600 ha of farmland inBolivia at USD 17,501,359.99. The
company has paid 43% of total amount while the rest remain to be paid in two
annual consecutive payments, the first one to be paid during calendar year
2009. These transactions were made according to what was stipulated in the
Company plans made public upon the Equity Follow on of last March, regarding
international expansion.
About Cresud:
Cresud is a leading Argentine agricultural company with a growing presence
in the Brazilian agricultural sector through its investment in
BrasilAgro-Companhia Brasileira de Propriedades Agricola. Cresud is currently
involved in a range of activities including crop production, cattle raising
and milk production. Cresud's business model, which it seeks to roll out
abroad, taking into account the specific conditions of each country, focuses
on the acquisition, development and exploitation of properties having
attractive prospects for agricultural production and/or value appreciation and
the selective disposition of such properties where appreciation has been
realized.
SOURCE Cresud S.A.C.I.F. y A.
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