AS A PUBLICLY TRADED COMPANY listed on the B3, SLC Agrícola had 44.1% of its shares in the hands of investors in September 2025. In addition to some of the world’s largest asset managers, such as BlackRock and Vanguard, the company has, in its shareholder history, major foreign pension funds such as the UN Staff Pension Fund (United Nations Joint Staff Pension Fund) and CalPERS (California Public Employees’ Retirement System), considered the largest public pension fund in the US.
These funds are mentioned in the shareholder list from SLC’s most recent General Assembly, held in April 2025. These shareholders have voting rights in the assembly, access to information about significant company transactions, and participation in profit distribution.
In August 2024, SLC informed its shareholders about leasing a 14,500-hectare area of Cosmos farm, owned by businessmen Ricardo Tombini and Eduardo Dall’Magro, for soy and cotton production. The area was annexed to the Parnaguá farm, operated by the company in Santa Filomena, in the Brazilian state of Piauí.
This investigation was conducted by Repórter Brasil, in partnership with O Joio e o Trigo e and The Bureau of Investigative Journalism.
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An alert from MapBiomas and analysis from the Dutch organization AidEnvironment identified recent deforestation on the property. Additionally, Tombini and Dall’Magro are accused of land grabbing by residents of the traditional Melancias community and are targets of a legal action from Interpi (Institute of Land of Piauí), which is requesting the return of 2,800 hectares of the farm. Documents from Funai (Brazilian National Foundation for Indigenous Peoples) and Interpi also point to the property overlapping with the territory of the Akroá Gamella indigenous people.
When questioned, SLC Agrícola stated that the leased area within the property does not overlap with the farm’s per