Reuters | Tue May 13, 2008
BUENOS AIRES, Argentina, May 13 /PRNewswire/ -- Calyx Agro Ltd.
("Calyx Agro") announced today that it has successfully completed an equity
financing from private investors.
Calyx Agro is a newly created venture focused on the acquisition,
development, rental and operation of agricultural land located in South
America with an emphasis on Brazil. Calyx Agro was formed by LD Commodities,
one of the world's leading commodity merchants and processors of agricultural
The investor group was led by AIG Investments and included a number of
other private equity- and family-sponsored investment funds.
The funds raised in the equity financing are intended to expand Calyx
Agro's agricultural land portfolio and further develop its existing farming
activities across a diverse range of products and regions.
Calyx Agro is seeking to capitalize on South America's growing
agribusiness sector and potential for farmland appreciation by acquiring land
that is presently operating with low technology or used for livestock
breeding. In turn, the company will seek to improve production yields, which
is expected to ultimately drive a higher resale value of the land.
"We are sincerely delighted to finalize this first funding phase, it is a
significant milestone in order to execute a clear and focused business plan by
which Calyx Agro will become the best option for investors seeking to
participate in this attractive sector," said Axel Hinsch, Chief Executive
Officer of Calyx Agro.