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Provider: Thomson Reuters StreetEvents

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SLC Agricola SA and Valiance Asset Management Limited Update on Establishment of SLC Landco

Thursday, 2 Aug 2012 05:34pm EDT 

SLC Agricola SA (SLC Agricola) announced that, following the information disclosed to the market of May 31, 2012, the terms and conditions in the subscription agreement with Valiance Asset Management Limited (Valiance) for the long term partnership for the investment and development of agricultural land in Brazil through SLC Landco Empreendimentos Agricolas SA (SLC Landco) were fulfilled on August 2, 2012. SLC Landco, which will be controlled by SLC Agricola, will be the exclusive vehicle for the investment and development of land in Brazil by SLC Agricola and Valiance. Initially, SLC Landco will be owner of Piratini, Planeste and Panorama Farms (Fazendas).Valiance will make a total contribution of USD 238,579,151.19 as follows: BRL 60,438,125.28 received by SLC Landco on August 2, 2012; USD 50,007,627.73 to be obtained on September 30, 2012; USD 79,518,431.09 on September 30, 2013; and USD 79,542,289.01 on September 30, 2014. 

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