OREANDA-NEWS. On Monday 13 February Black Earth Farming Ltd. (the "Company") announced that its directly wholly owned subsidiary, Planalto Enterprises Limited ("Planalto") had entered into a framework share purchase agreement regarding the sale of its indirectly wholly owned subsidiaries Agro Invest ("AIMC") and Agro Invest Regions and an assignment agreement pursuant to which Planalto assigns its claims under the intergroup loans to AIMC to Volgo-DonSelkhozInvest LLC (the "Transaction"). On 23 March the Company's extraordinary general meeting approved the Transaction and on 27 March the Company announced that the competition authorities required additional time for the approval process.

The Company now announces that it has received regulatory approval for the Transaction from the relevant authorities.

The Company will now proceed with the closing process of the Transaction which is subject to certain other statutory and customary registration measures. The assumptions are that closing will occur in May and under that assumption, the Company estimates that the sale proceeds from the transaction could be distributed to the shareholders late-June.