SAO PAULO (Reuters) – SLC Agrícola and Terra Santa announced this Friday a new step in the merger process that will create a giant in grain in Brazil and said that the conditions precedent for the completion of the operation have been met.
With the merger of shares, the companies said that the capital increase of SLC was confirmed, with the issue of 2,516,454 shares, for the total subscription price of 138 million reais, corresponding to 54.84 reais per share.
According to the press releases, on July 14, Terra Santa Properties Agrícolas (formerly TS Agro) was registered as a publicly-held company for listing in the Novo Mercado segment of B3.
Thus, the capital reduction of Terra Santa can be made, concluding the fulfillment of the precedent conditions of the operation.
“The date of August 1, 2021 was established as the effective date for the capital reduction and consummation of the merger of shares”, said the companies, after meetings of their boards of directors.
As a result, August 2 was the date set for the start of trading in TS Agro’s shares on B3 through the ticker LAND3.
(By Nayara Figueiredo)
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