February 27, 2008

Brazilian fund invests in Argentina's Los Grobo

Investimento em Participacoes, a Brazilian investment fund, said it would buy a minority stake in Argentine soy giant Los Grobo SA, for US$100 million, Clarin reported.

Los Grobo president Gustavo Grobocopatel said the producer and fund signed the agreement in Rio de Janeiro yesterday. The company owns 160,000 hectares of farmland in Argentina and Uruguay.

Brazilian companies have invested more than US$8 billion in Argentina since the country's economic crisis of 2002, the newspaper said.