British agricultural firm buys Uruguayan unit of Argentine company

lunes 24 de febrero de 2014 13:25 GYT

MONTEVIDEO Feb 24 (Reuters) - British agricultural company Union Group bought the Uruguayan unit of Argentine firm El Tejar for $170 million, a move that will give it control over 67,000 additional hectares (165,560 acres) of land in the small South American country, the company said Monday.

Union Agriculture Group (UAG), the local affiliate of Union Group, will control a total of 170,000 hectares (420,080 acres) in Uruguay after the acquisition, the company said in a statement.

UAG produces soy, wheat and rice, milk and beef.