Danish agricultural investment company FirstFarms says it has signed a conditional agreement to buy Romanian company AISM and expects to close the deal in the second quarter of this year.
The conditional agreement follows a letter of intent regarding FirstFarms’s acquisition of AIC issued in January. AIC’s main asset is AISM, which owns 2,430 hectares of agricultural land in northern Romania, a silo with 6,000 tonnes storage capacity, feed mills as well as storage and office facilities, according to the Danish buyer.
FirstFarms is a public limited company which invests in agriculture and land in Eastern Europe. It says it purchases and modernizes farming companies and land in order to optimize their operation so future production of agricultural produce will be competitive in terms of price and quality.