Czech PPF Buys Agro-Pro

July 28, 2011

Czech investment group PPF has acquired Russian agricultural company RAV Agro-Pro, owner of 164,500 hectares of agricultural land, it said Wednesday.

PPF, controlled by Czech billionaire Petr Kellner, said it bought 100 percent of the Voronezh-based grain and livestock farmer.

PPF, which also owns banking group Home Credit, which plans to raise about $1 billion in a public share offer in September, did not disclose the financial terms of the deal. Investment fund RP Capital was a co-investor in the deal.

(Reuters, Bloomberg)

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