Chinese Huapont Pharm buys stake in Brazilian CCAB
Chinese publicly listed group Chongqing Huapont Pharm has acquired a 7.5% stake in Brazilian agricultural inputs business CCAB Agro (Sao Paulo) for $20 million. CCAB Agro mainly markets pesticides and is composed of 16 farmer co-operatives in five major agricultural states. It is part of holding company CCAB Participações. The company was formed in 2007 with the goal of gaining registrations of generic pesticides that could be sold among its associates. It has a “strong pipeline of existing and upcoming agrochemical product registrations”, and views the deal as enabling it to enter pesticide research and development.