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China’s CITIC closes $1.1 billion Brazil takeover, sees more ahead

China’s CITIC Agri Fund said on Friday it had completed its $1.1 billion acquisition of Dow Chemical’s corn seed business in Brazil, a potential vehicle for future purchases in Latin America. CITIC Agri Fund, which is partly owned by Chinese conglomerate CITIC, has about $2.65 billion available for takeovers after paying $1.1 billion to Dow, General Manager Shi Liang said. Reuters reports. Argentina to defend agricultural exports and boost Latin America with G20 presidency Argentina will use its role as the first South American country to chair the G20 group of major economies to combat protectionism, as the agricultural-exporting region […]
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