AGRO Shares Commence Trading on NYSE

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Jan 28, 2011, 11:12 ET

NEW YORK, Jan. 28, 2011 /PRNewswire/ -- Adecoagro S.A., a leading agricultural company in South America, commenced trading its shares on the New York Stock Exchange today under the symbol "AGRO".

In its initial public offering, Adecoagro offered a total of 28,571,428 shares of common stock at a price to the public of $11.00 per share. Including the investment made by the Al Gharrafa Investment Company of 7,377,598 shares, a wholly owned subsidiary of Qatar Holding LLC, the Company is expecting to receive net proceeds of approximately $378 million at closing, which is expected to occur on February 2nd.

Representatives from the firm, which has operations in Argentina, Brazil and Uruguay, participated in the closing bell ceremony at the NYSE, along with shareholders and NYSE executives.

"This is a milestone event in our Company's history. We are very happy for having achieved this important step to continue executing our growth plans. We will continue to seek to create jobs, act in environmentally responsible ways and provide returns for our shareholders", said Mariano Bosch, CEO of Adecoagro.

"We have a great challenge ahead and feel a great sense of responsibility in continuing to promote and develop sustainable production projects in South America. We are proud of being able to showcase the favorable conditions for agribusiness that South America offers in terms of its people, its technological development and its natural resources", Mariano Bosch added.

This achievement is the result of a project that started ten years ago led by a group of Argentine and Brazilian executives. Following 10 years of sustained growth sponsored by a strong shareholder base, including affiliates of Soros Fund Management, LLC; HBK Investments L.P.; Ospraie Management, LLC; Stichting Pensioenfonds Zorg en Welzijn, and Qatar Holdings, LLC; Adecoagro has become a leading agricultural company in South America. Adecoagro's business model is based on: (i) a low-cost production model focused on producing each crop in the most competitive region; (ii) owning land and transforming it to its highest production capabilities; (iii) owning and operating industrial assets to process our production; and (iv) a sustainable production model focused on profitability.

In addition to Bosch, the following Adecoagro officers were also present in today's events at theNYSE: Charlie Boero Hughes (Chief Financial Officer), Emilio Gnecco (Chief Legal Officer), Marcelo Sanchez (Chief Commercial Officer), Mario Jose Imbrosciano (Director of Business Development), Marcelo Vieira (Director of Sugar & Ethanol) and Hernan Walker (Investor Relations Officer).

Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. Incorporated and Itau BBA USA Securities Inc. acted as global coordinators and joint bookrunners for the offering. Deutsche Bank Securities acted as bookrunner. Banco do Brasil Securities LLC, HSBC Securities (USA) Inc., Rabo Securities USA, Inc. and Santander Investment Securities Inc. acted as co-managers. The BNY Mellon Shareowner Services division of The Bank of New York Mellon served as the transfer agent.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission today. Any offer or sale will be made solely by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained from: (a) Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010 or by calling 1-800-221-1037, (b) Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department or by calling 1-800-584-6837, (c) Itau BBA USA Securities Inc. by calling 1-888-770-4828, or (d) Deutsche Bank Securities at Attention: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311 or by calling 1-800-503-4611.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Adecoagro

Adecoagro is a leading agricultural company in South America. Adecoagro owns farmland and industrial facilities spread across the most productive regions of Argentina, Brazil and Uruguay, where it produces a wide range of agricultural products including corn, wheat, soybeans, rice, dairy products, sugar, ethanol and electricity among others. The company employs over 5,700 people in its operations.

SOURCE Adecoagro S.A.