The CESL Asia – Investments and Services Limited group has formalized the acquisition of the Monte do Pasto Group, located in the Portuguese municipalities of Cuba and Alvito. The acquisition was made through its wholly-owned subsidiaries Focus Platform and Focus Agriculture.
Monte do Pasto, which oversees nine farms in the Alentejo region spanning almost 3,700 hectares, exports around 30,000 live cattle per year, mainly to North Africa and the Levant, but also to neighboring Spain. The value of the business has not yet been disclosed, but Portuguese news agency Lusa said it is 37.5 million euros.
CESL Asia group said in a statement that it plans to develop, with Monte do Pasto, a platform that will enhance existing productions and that will also allow for the launch of new sustainable agricultural and livestock activities.
The acquisition is also expected to boost exports to the Macau and China markets and to seize the opportunities created by a platform for social and economic cooperation between China, Portugal and the Portuguese-speaking countries.
“We expect to diversify our investments into other sectors related to our competencies, namely in agriculture, import and export of high quality food and clean energy,” said António Trindade, CEO of CESL Asia.
No Comments