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January 3, 2013
17:52 EDTAGROAdecogro announces sale and lease back of Santa Regina farm
Adecogro announced that on December 27, it completed the sale and lease back of 51% of the "Santa Regina" farm, located in General Villegas, province of Buenos Aires, Argentina. Under the terms of the agreement, Adecoagro sold 51% of the outstanding shares of Santa Regina S.A., a company whose main asset is the Santa Regina farm, for a total consideration $13M and has granted the buyer a call option to acquire on or before June 2014 the remaining 49% interest for $13.1M. Adecoagro will lease and operate the farm during the next two crop years as of May 2013. Santa Regina is a 3,618 hectare farm which was purchased by Adecoagro in 2002 for a total of $2.3M, or $625 per hectare. The book value of Santa Regina in the company's balance sheet was $3.1M, therefore this transaction will result in approximately $19.8M of operating profit recorded in Q4, with the following breakdown: a $9.3M gain corresponding to the sale of 51% stake of Santa Regina S.A., and a $10.5M gain corresponding to the fair valuation of Adecoagro's remaining 49% interest in Santa Regina S.A. according to IFRS accounting rules.
News For AGRO From The Last 14 Days
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November 16, 2015
09:10 EDTAGROAdecogro management to meet with JPMorgan
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November 12, 2015
17:13 EDTAGROAdecogro says mills crushed 3.2M tons of sugarcane in Q3
15.1% higher year-over-year, driven by an increase in nominal crushing capacity combined with higher milling efficiency. Sugarcane productivity increased by 10.5% reaching 86.3 tons/ha while sugar content stood at 140.5 kg/ton, resulting in a 14.2% year-over-year growth in TRS per hectare. Our cogeneration operation has reached a record productivity ratio of 72.2 KWh per ton of sugarcane crushed. As a result of these productivity enhancements our sugar, ethanol and energy production increased by 11.7%, 26.9% and 40.2% respectively during the quarter.
17:12 EDTAGROAdecogro reports Q3 adjusted EBITDA $49.7M
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