Reuters SG
Belgian sustainable crop management provider Biobest Group has reached a deal to acquire Brazilian peer Biotrop as it looks to expand its footprint in the South American agricultural powerhouse, the companies announced on Thursday. The firms said in a joint statement Biobest has signed a binding agreement to buy an 85% stake of Biotrop, which is currently controlled by private equity firm Aqua Capital, at a valuation of 532 million euros ($569.45 million). The remaining 15% stake will be bought by Biobest after a three-year transition period, the companies said, adding they expect the deal to be completed by the end of this year.