5th Dec 2016 09:35
LONDON (Alliance News) - Craven House Capital PLC on Monday said it has acquired a holding company which owns land in Brazil for USD3.1 million.
Craven said Universal Properties Brasil Administracao de Imoveis Ltda owns a 500-hectare parcel of land in Canavieiras in the Bahia region of north east Brazil.
"We are delighted to announce the acquisition of this outstanding asset which represents our second substantial land holding in Bahia, just a few hundred kilometers from the 1,967 hectare property in Caravelas in which the company is a minority shareholder," said Mark Pajak, a director of Craven House.
"The land owned by UPBAI is ideal for both agricultural use or property development, and we look forward to announcing further plans for these properties in due course. We continue to evaluate further land acquisitions in the region," he added.
Craven House Capital shares were flat at USD7.00 on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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