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Brazil May Ease Rules on Foreign Purchase of Land, Valor Says

Brazil may ease rules limiting foreigners’ purchases of farm real estate by October, Valor Economico reported, citing lawmaker Homero Pereira.

The government may allow foreign companies to seize land in case of a default in barter deals, the Sao Paulo-based newspaper said.

In addition to the rules, Brazilian Congress may pass a new law on foreign land purchases, Pereira told Valor.

To contact the reporter on this story: Lucia Kassai in Sao Paulo at lkassai@bloomberg.net

To contact the editor responsible for this story: Francisco Marcelino at mdeoliveira@bloomberg.net

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