Danish investor in farming land continues divestment of Romanian properties

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Romania Insider | 19 July 2021

Danish investor in farming land continues divestment of Romanian properties
 
by Andrei Chirileasa
 
The Danish farming company FirstFarms announced that it reached an agreement to sell its assets in northwestern Romania, some 2,400 ha of land, for nearly EUR 14 mln, Profit.ro reported.
 
Previously, FirstFarms announced the sale, in several stages, of some plots of land with an aggregate surface of 1,675 hectares located in western Romania, estimating total revenues of EUR 11.3 mln.
 
After the deal, FirstFarms remains with the lands in the eastern part of Romania, with a total area of 4,530 hectares.
 
FirstFarms announced that it signed a conditional agreement to sell its “operations in northwestern Romania” in exchange for DKK 104 mln (EUR 13.98 mln). According to public information, FirstFarms owns 2,430-hectare farmland in the northwest of the country, purchased last year from another Danish investor.
 
 
“When we purchased the activities (from northwestern Romania), we wanted to use the time available to evaluate the various options and prioritize efforts in Romania. The best option has been the immediate divestment,” explained Anders H. Nørgaard, CEO of the Danish company.
 
Founded in 2006, FirstFarms is headquartered in Denmark and operates in Romania, Slovakia, Hungary, and the Czech Republic. The company has 16 plant and animal production units, with over 300 employees.
Original source: Romania Insider
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