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Buffett’s Hathaway seeks farmland in Brazil, Relatorio reports

Bloomberg | Sep 1, 2010

By Lucia Kassai

Warren Buffett’s Berkshire Hathaway Inc. is seeking a partnership with Brazilian billionaire Rubens Ometto and soybean grower Blairo Maggi to buy farmland in the South American country, Relatorio Reservado reported.

Berkshire Hathaway would have a minority stake in the venture, which may invest $400 million in land to plant soybean and sugar cane, the Rio de Janeiro-based newsletter said, without saying where it got the information

Rubens Ometto is the controlling shareholder of Cosan SA Industria & Comercio, the world’s biggest sugar-cane processor in a joint venture with Royal Dutch Shell Plc. Maggi is Brazil’s second-biggest soybean grower after Erai Scheffer.

Buffett’s assistant Carrie Kizer didn’t immediately respond to a request for comment from Bloomberg News. Julio Valmorbida, a spokesman for Maggi, didn’t return a call and an e-mail seeking comment. An official at an outside firm representing Cosan, who can’t be named under company policy, didn’t immediately return calls.

To contact the reporter on this story: Lucia Kassai in Sao Paulo at [email protected]

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