SLC Agricola Rises Most in Four Weeks on Brazil Land Venture
Stock Chart for SLC Agricola SA (SLCE3)
SLC Agricola SA (SLCE3) rose the most in four weeks after it signed a contract with Valiance Asset Management Ltd. to create a joint venture to invest in Brazilian agricultural land.
The farm company gained 2.1 percent to 18.64 reais at 11:40 a.m. in Sao Paulo, after earlier rising as much as 5.2 percent in the steepest intraday advance since May 4. The benchmark Bovespa index dropped 0.7 percent.
Valiance will invest $239 million in the venture by 2014 and will hold a 49.4 percent stake, while SLC will own the remainder, according to a regulatory filing.
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