New Zealand Farming Systems Uruguay Limited (NZFSU) witnessed a rise in its trade market value by 8.62%, reaching 63 cents a share, after a market value of only 5 cents. The rise was attributed to Union Agriculture Group Corporation (UAG) full cash proposal to NZFSU, offering a transaction of all of NZFSU's shares for 60 cents per share. This proposal will definitely lead to some reconsideration from NZFSU's side regarding the earlier offer of Olam International, a Singaporean agriculture product and service provider, of 55 cents per farming system share.

The Singaporean investors are now in hot water, struggling to keep the deal going especially that they did not expect any competition regarding that deal anyway. In addition, UAG is a strong rival in the field of farming equipment, as it has operations going on in Uruguay for more than 30 years, which allowed the agriculture Company to form a grounded reputation.

Olam planned for the deal for purchasing the 11.5% stake of PGG Wrightson in NZFSU and it was granted the acceptance for this offer from PGG Wrightson.

Juan Sartori, UAG Chairman, stated, "We believe combining UAG's management expertise and local knowledge in Uruguay with NZFSU's expertise and experience in dairy farming will create significant opportunities for growth".