British agricultural firm Union Agriculture Group (UAG) has acquired in totality the Uruguayan assets of the Argentine agricultural group El Tejar for $170 million. The acquisition is part of UAG’s plan to build its land holdings in Uruguay and strengthen its position as one of the largest agribusinesses in Latin America. The deal encompasses the purchase of 67,000 hectares farmed by El Tejar bringing UAG’s total land holdings in Uruguay to 172,000 hectares, or 1% of the country’s total land area. The two businesses will fully merge their agricultural operations creating two centers of agricultural production in the center and west of the country which will complement UAG’s seven regional agricultural farming clusters already in operation.
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