Mitsui & Co to acquire 29.44% stake in Ouro Fino from BNDESPAR for $66m.

Mitsui & Co, a general trading company, agreed to acquire 29.44% stake in Ouro Fino, a Brazilian animal health firm, from BNDESPAR, an investment arm of Brazil's national development bank, for $66m. The Brazilian animal health market is the third largest in the world and is on a steep growth curve of 10% per annum. The livestock industry is particularly important in Brazil, which boasts the world's largest number of beef cattle, as well as a substantial number of pigs and poultry. The number of companion animals in Brazil is growing even faster than that of livestock animals, as a result of an increasing wealthy and middle-class population, and this segment will be a major driver for future market growth.