Monday, December 26, 2011

Saudi Argentina land acquisition

"Saudi Arabia' s largest dairy company said this week that it is buying Argentine farm operator Fondomonte for $83 million to secure access to a supply of animal feed. The acquisition will give Riyadh-based Almarai Co. control of roughly 30,000 acres of farmland in the South American nation just ahead of tough new limits likely to be imposed by Argentina's government on foreign ownership of productive land. Almarai said the deal is in line with the desert kingdom's policy of "securing supplies and conserving local resources.""

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