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Brazilian Camil To Buy Uruguayan Saman for $110 Mln
Brazilian rice producer and exporter Camil Alimentos has offered to buy up to a 100 pct stake in Uruguayan rice exporter Saman for $110 mln (81.6 mln euro).

The deal will be concluded with the completion of a 90-day due diligence. Thus the purchase is expected to be finalised by the end of November 2007.

A total 95 pct of Saman's revenue is generated through rice exports, Saman's president, Ricardo Ferres, said. In 2006 Saman posted $100 mln (74 mln euro) in exports. Camil was one of the major buyers of Saman in Brazil in 2006. The Ferres family owns over a 50 pct stake in Saman.

Currently, Camil exports rice to over 20 countries. With the purchase of Saman, Camil will enter new markets, including Iran, China and the European Union (EU).

Camil (camil.com.br), which was set up in 1963, is currently one of the leaders in Brazil, as well as in Latin America, in the milling, distribution and selling of rice and beans.
MGR Archive 23.8.2007
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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