Amaggi, the dominating company in Brazil’s agribusiness sector, announces that it is negotiating to Brazilian grain producer Ciapar for acquisition. Ciapar has a cultivation land of 105,000 hectares.

Privately-owned grain trading group Amaggi, owned by the family of Brazilian Agriculture Minister Blairo Maggi, said it is in talks to buy 100 percent of Companhia Agrícola do Parecis. The acquisition of the Mato Grosso-based grain producer known as Ciapar, which has been approved by Brazil’s antitrust authority Cade, still hinges on conditions to be formally closed, Amaggi said in a statement. Amaggi refused to disclose the value of the potential transaction, which includes the Itamarati Norte farm, Reuters reported. That land has 105,000 hectares where soy, corn, and cotton are produced. The main activities of Amaggi are in the areas of grain origination and commercialization, agricultural production, soybean seeds, fertilizers, soybean processing, fluvial transport and power generation. The company cultivates soybeans, cotton, and corn. The Amaggi Group is one of the world’s largest soy exporters and one of Brazil’s largest national grain producers. It has huge investments in the soy industry, including soy terminals, highways, railways and industrial waterways. In 2016, Amaggi Commodities’ net revenue from sales totaled the US $3 billion, a 27.6 percent increase compared to 2015.