en.Wedoany.com Reported - Two of Brazil's agricultural giants, SLC Agrícola and the Bom Futuro Group, are competing for a portfolio of farms valued at 1.85 billion reais owned by the Radar Group, known as the "Mato Grosso Block." These properties cover a total area of approximately 41,200 hectares and are used for growing soybeans, corn, and cotton.

SLC Agrícola was previously seen as a potential buyer, as it already leases part of the land in this block and holds a contractual right of first refusal. The company initially stated it was only analyzing the transaction terms. However, on Friday (26th), SLC Agrícola issued a statement announcing that it had "irrevocably and irreversibly" exercised its right of first refusal to acquire all the properties.

On the same day, Bom Futuro also released an official statement claiming to have exercised its right of first refusal. The company stated that the acquisition aligns with its expansion strategy in the state, where it has operated for over 44 years.

The transaction amount is 1.85 billion reais, making it one of the largest rural property deals in Brazil in recent years. These assets represent approximately 12% of Radar's land portfolio, which is a joint venture between U.S. management company Nuveen and Cosan.

In its announcement, SLC Agrícola detailed the financial structure of the transaction. The acquisition involves approximately 41,214 hectares of land, of which about 28,800 hectares are arable. The company already leases and operates 17,600 hectares of this land. The acquisition will be conducted under the "porteira fechada" (closed-gate/farm-gate sale) model. Of the total 1.85 billion reais, 700 million reais will be paid as a deposit and placed in an escrow account, with the remaining 1.15 billion reais to be paid upon signing the deed. The transaction is expected to be completed by October 30, 2026, subject to conditions including approval from the Administrative Council for Economic Defense (CADE).

Since Cosan announced the sale, the transaction has been closely monitored by the financial market. The outcome of this contest will determine who will acquire the high-quality agricultural assets in Mato Grosso, Brazil's largest grain-producing state.

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