Deals
Chinese Firm Said to Take Control of Brazilian Soybean Exporter
- Hunan Dakang said to buy 57% stake in Fiagril for $286 million
- Deal would be first major China purchase in Brazil crop sector
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China is so hungry for soybeans it’s said to have taken a major foray into expanding its control over supplies from Brazil, the world’s top exporter.
A unit of China’s Shanghai Pengxin Group Co. bought a controlling stake in Brazil’s soybean trader and biodiesel maker Fiagril Ltda for $286 million, said a person with direct knowledge of the matter, who asked not to be identified because the details of the deal haven’t been published. The deal would be the first major Chinese acquisition of an agricultural company in Brazil.