Key Facts
—The deal. SLC Agrícola, one of Brazil’s largest listed farmers, agreed on June 26 to buy a block of Mato Grosso farmland for R$1.85bn ($358m).
—The seller. The land belongs to Radar, a farm-property venture tied to Cosan and US investor Nuveen, and totals about 41,200 hectares.
—The rival. SLC pulled rank with a contractual first-refusal right, snatching the block from a matching bid by Eraí Maggi’s Bom Futuro.
—The price. SLC says it works out to about R$64,200 ($12,400) a hectare, roughly 15 percent below local market value.
