Chinese company buys majority stake in Brazilian grain company

Purchase comes days after Australia rejects acquisition of its largest cattle ranch by same Chinese company.

Brazilian grain company Fiagril Participações SA has sold a controlling stake to China's Hunan Dakang Pasture Farming Co. Ltd., a unit of Shanghai Pengxin Group Co., according to Reuters. Interestingly, the move came days after Australia's Treasurer Scott Morrison rejected a $370 million bid by Shanghai Pengxin for S. Kidman & Co., Australia’s largest cattle ranch.

Two sources with direct knowledge of the deal told the news outlet that the Chinese firm bought a 57% stake in Fia

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