Marcos Pereda, the current vice president of the Argentine Rural Society (SRA), along with his siblings Matilde and Celedonio, have sold approximately 24,000 hectares of farmland in Buenos Aires province. The buyer is Faro Verde, an investment group involved in various sectors including agriculture, hospitality, and real estate, and led by José María Larocca, a notable figure in equestrian sports and an Olympic participant. The transaction marks a significant change in land ownership in the region.

The deal, which concluded last Thursday, followed a negotiation process lasting about six to seven months. However, the Pereda family had been considering the sale for three to four years as part of their family planning. The extent of the sale and the investors involved highlights a broader trend of land acquisitions in Argentina, which is influenced by both agricultural opportunities and investment activities from both national and international entities.

While the precise financial terms of the transaction have not been disclosed, market sources estimate the deal to be around $100 million, indicating a robust interest in Argentine agricultural land. This sale could have substantial implications for local agricultural practices and land management, potentially reshaping the agricultural landscape in Buenos Aires, especially under the management of a diversified investor like Faro Verde.