LND Brasilagro Cia Brasileira De Propriedades Agricolas

 

FORM 6-K
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934

 

dated  November 8, 2022

 

BRASILAGRO – COMPANHIA BRASILEIRA DE PROPRIEDADES AGRÍCOLAS
(Exact Name as Specified in its Charter)

 

BrasilAgro – Brazilian Agricultural Real Estate Company

(Translation of Registrant’s Name)

 

1309 Av. Brigadeiro Faria Lima, 5th floor, São Paulo, São Paulo 01452-002, Brazil

(Address of principal executive offices)

 

Gustavo Javier Lopez,

Administrative Officer and Investor Relations Officer,

Tel. +55 11 3035 5350, Fax +55 11 3035 5366, ri@brasil-agro.com

1309 Av. Brigadeiro Faria Lima, 5^th floor

São Paulo, São Paulo 01452-002, Brazil

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F ☒    Form 40-F ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):                    

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):                    

 

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes ☐    No ☒

 

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not applicable.

 

 

 

 

Material Fact

 

BRASILAGRO – COMPANHIA BRASILEIRA DE PROPRIEDADES AGRÍCOLAS

 

Publicly-Held Company with Authorized Capital

Corporate Taxpayer’s ID (CNPJ/MF) No. 07.628.528/0001-59

State Registry (NIRE) 35.300.326.237

 

Sale of Morotí Farm (Paraguay)

 

BrasilAgro – Companhia Brasileira de Propriedades Agrícolas (B3: AGRO3) (NYSE: LND), in compliance with the provisions of Article 157, Paragraph 4 of Law 6404/76 and of Instruction No. 358/02 of the Brazilian Securities and Exchange Commission (“CVM”), hereby informs its shareholders and the market in general that, has sold a total area of 863 hectares (498 arable hectares) of the Morotí Farm, a property located in Paraguay.

 

The nominal value of the sale was US$1.5 million (~$1.7 thousand/ha). The buyer made an initial payment of U$748,500. The remaining balance will be paid in three equal annual installments.

 

Morotí Farm was acquired in December 2013 and had a total area of 59,585 hectares (34,053 arable hectares) located in the state of Boquerón, in the western region of Paraguay (Paraguayan Chaco region). Paraguay is the third largest agricultural producer in South America and has become a region of natural expansion for agriculture.

 

The property was acquired for US$18.7 million (~US$314/ha), representing a gain of more than US$1,400/hectare. From an accounting point of view, the value of this area of the farm in the company's books is U$853,000 (acquisition value + goodwill + net depreciation investments) and has an expected Internal Rate of Return (IRR) in dollars of 27.9% (42.2% in Reais).

 

This is the first sale made in this property, which still has a total area of 58,722 hectares, mostly in the process of development, with high potential for generating and capturing value.

 

São Paulo, Novembro 8th, 2022.

 

Gustavo Javier Lopez

CFO & IRO

 

Investor Relations:

Phone: +55 (11) 3035-5374

E-mail: ri@brasil-agro.com

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: November 8, 2022	By:	/s/ Gustavo Javier Lopez
		Name:	Gustavo Javier Lopez
		Title:	Administrative Officer and Investor Relations Officer

 

 

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