Bloomberg News

SLC Agricola Rises Most in Four Weeks on Brazil Land Venture

May 31, 2012

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.

To contact the reporter on this story: Karen Eeuwens in London at keeuwens@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net


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