Macao company CESL Asia is paying Saltiproud SGPS SA of Portugal some €40 million (about US$45.5 million) for its Monte do Pasto livestock breeding business, the Macao Daily News reports.
The newspaper says Saltiproud breeds livestock on 3,700 hectares of farmland in the Alentejo region of Portugal, making the Monte do Pasto business one of the five biggest of its type in Europe.
CESL Asia considers its purchase a sign of the progress of Sino-Portuguese co-operation in farming, and a result of Macao serving as a place where China and the Portuguese-language Countries can conduct business, the report says.
The newspaper also reports that CESL Asia and the Macao branch of the Bank of China have struck an agreement to co-operate in investing in Macao and parts of the lusophone world.
CESL Asia means to set up an arm to finance and run businesses in Portuguese-speaking parts of the world, in Europe and in the Guangdong-Hong Kong-Macao Greater Bay Area, the Macao Daily News says.
