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Romania: Abu Dhabi group takes over biggest grain farm

Value of the transaction 200 to 250 million euro

04 July, 16:25
(ANSA) - BELGRADE, 04 LUG - Al Dahra Agriculture, a prominent agribusiness group based in Abu Dhabi, will take over the Romanian Agricost Braila, which controls the biggest grain farm in the country, the portal Romania Insider reported today, adding that the transaction was approved by the Romania's Competition Council.

Agricost has a concession of 56,000 hectares at the Insula Mare a Brailei, "an island on the Danube that has the most fertile land in Romania, until 2032," the portal added.

According to the information circulated on local media in Romania, the value of the transaction could vary from 200 to 250 million euro and it will include only the farming business, not the land, that belongs to the Romanian State. Al Dahra Agriculture may invest up to 500 million euro in five years in the business in Romania, local media added. (ANSA).

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