Soros-Backed Farms Ripe for Bids at 36% Asset Discount: Real M&A

Adecoagro SA, the agricultural company that counts George Soros as its biggest investor, is giving potential buyers the chance to get a hold of farms in Brazil and Argentina at a 36 percent discount to its net assets.

The producer of soybeans, sugar and rice slumped 21 percent in the past year, more than three times the average decline of similar-sized farming companies around the world, as investors shunned Argentine assets after the government seized YPF SA. That’s left the $1.1 billion farmland venture trading at 0.64 times its net asset value of about $14.78 a share, based on the average of four analysts’ estimates compiled by Bloomberg.