Vanguarda Agro SA plans to create a fund to raise money to buy land and boost its cultivated area to 500,000 hectares within five years, Valor Economico reported, citing the company’s largest individual shareholder, Otaviano Pivetta.
This year the company will plant about 280,000 hectares, the Sao Paulo-based newspaper said. Vanguarda will create the fund next year and plans to offer 49 percent of it to outside investors, according to Valor.
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