EX-8.1 4 cresud_ex81.htm LIST OF SUBSIDIARIES

EXHIBIT 8.1

LIST OF SUBSIDIARIES

The following table lists our subsidiaries and their jurisdiction of incorporation as of June 30, 2023:

Agricultural Business

|  |  |  |  |  | % of ownership interest held by the Group |
Name of the entity |  | Country |  | Principal activity |  | 06.30.2023 |
Cresud's direct equity interest in: |  |  |  |  |  |  |
Brasilagro-CompanhIa Brasileira de Propriedades Agrícolas (1) (2) |  | Brazil |  | Agricultural |  |  | 37.88 | %
Futuros y Opciones.Com S.A. (6) |  | Argentina |  | Brokerage |  |  | 49.55 | %
Helmir S.A. |  | Uruguay |  | Investment |  |  | 100.00 | %
IRSA Inversiones y Representaciones Sociedad Anónima (2) |  | Argentina |  | Real estate |  |  | 56.93 | %
Alafox S.A. (3) |  | Uruguay |  | Investment |  |  | - |
Brasilagro's direct equity interest in: |  |  |  |  |  |  |  |
Araucária Ltda. |  | Brazil |  | Agricultural |  |  | 99.99 | %
Cajueiro Ltda. |  | Brazil |  | Agricultural |  |  | 99.99 | %
Ceibo Ltda. |  | Brazil |  | Agricultural |  |  | 99.99 | %
Cremaq Ltda. |  | Brazil |  | Agricultural |  |  | 99.99 | %
Engenho de Maracajú Ltda. (3) |  | Brazil |  | Agricultural |  |  | - |
Flamboyant Ltda. |  | Brazil |  | Agricultural |  |  | 99.99 | %
Jaborandi Agrícola Ltda. |  | Brazil |  | Agricultural |  |  | 99.99 | %
Jaborandi Propriedades Agrícolas S.A. |  | Brazil |  | Agricultural |  |  | 99.99 | %
Mogno Ltda. |  | Brazil |  | Agricultural |  |  | 99.99 | %
Palmeiras S.A. |  | Paraguay |  | Agricultural |  |  | 99.99 | %
Agropecuaria Morotí S.A. |  | Paraguay |  | Agricultural |  |  | 99.99 | %
Agrifirma S.A. |  | Brazil |  | Agricultural |  |  | 99.99 | %
Agropecuaria Acres del Sud S.A. (2) (4) |  | Bolivia |  | Agricultural |  |  | 99.99 | %
Ombú Agropecuaria S.A. (4) |  | Bolivia |  | Agricultural |  |  | 99.99 | %
Yatay Agropecuaria S.A. (4) |  | Bolivia |  | Agricultural |  |  | 99.99 | %
Yuchán Agropecuaria S.A. (2) (4) |  | Bolivia |  | Agricultural |  |  | 99.99 | %
Futuros y Opciones.Com. S.A.'s direct equity interest in: |  |  |  |  |  |  |  |
Amauta Agro S.A. (5) |  | Argentina |  | Brokerage |  |  | 98.57 | %
FyO Acopio S.A. (5) |  | Argentina |  | Warehousing and brokerage |  |  | 98.57 | %
FyO Chile SPA |  | Chile |  | Brokerage |  |  | 100.00 | %
Helmir S.A.'s direct equity interest in: |  |  |  |  |  |  |  |
FyO Holding S.A. |  | Uruguay |  | Investment |  |  | 50.10 | %

(1) | See Note 7 for further information regarding to Brasilagro.
(2) | Includes interest indirectly held through Helmir.
(3) | Liquidated during the fiscal years ended June 30, 2023 and 2022.
(4) | See Note 4 to the consolidated financial statements as of June 30, 2021.
(5) | Includes direct participation of Cresud.
(6) | The Company owns 50.10% of the common shares of Futuros y Opciones S.A (FyO). The preferred options held by FyO management have only economic rights since the political rights are subject to the majority willpower of the holders of common shares.

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Urban Properties and Investments Business

|  |  |  |  |  | % of ownership interest held by the Group |
Name of the entity |  | Country |  | Main activity |  | 06.30.2023 |
IRSA's direct interest: |  |  |  |  |  |  |
E-Commerce Latina S.A. |  | Argentina |  | Investment |  |  | 100.00 | %
Efanur S.A. (3) |  | Uruguay |  | Investment |  |  | - |
Hoteles Argentinos S.A.U. |  | Argentina |  | Hotel |  |  | 100.00 | %
Inversora Bolívar S.A. |  | Argentina |  | Investment |  |  | 100.00 | %
Llao Llao Resorts S.A. (1) |  | Argentina |  | Hotel |  |  | 50.00 | %
Nuevas Fronteras S.A. |  | Argentina |  | Hotel |  |  | 76.34 | %
Palermo Invest S.A. |  | Argentina |  | Investment |  |  | 100.00 | %
Ritelco S.A. |  | Uruguay |  | Investment |  |  | 100.00 | %
Tyrus S.A. |  | Uruguay |  | Investment |  |  | 100.00 | %
U.T. IRSA y Galerias Pacifico (1) |  | Argentina |  | Investment |  |  | 50.00 | %
Arcos del Gourmet S.A. |  | Argentina |  | Real estate |  |  | 90.00 | %
Emprendimiento Recoleta S.A. |  | Argentina |  | Real estate |  |  | 53.68 | %
Fibesa S.A. |  | Argentina |  | Real estate |  |  | 100.00 | %
Panamerican Mall S.A. |  | Argentina |  | Real estate |  |  | 80.00 | %
Shopping Neuquén S.A. |  | Argentina |  | Real estate |  |  | 99.95 | %
Torodur S.A. |  | Uruguay |  | Investment |  |  | 100.00 | %
EHSA |  | Argentina |  | Investment |  |  | 70.00 | %
Centro de Entretenimiento La Plata |  | Argentina |  | Real estate |  |  | 100.00 | %
We Are Appa S.A. |  | Argentina |  | Design and software development |  |  | 98.67 | %
Tyrus S.A.'s direct interest: |  |  |  |  |  |  |  |
DFL and DN BV |  | Bermuda’s / Netherlands |  | Investment |  |  | 99.59 | %
IRSA International LLC |  | USA |  | Investment |  |  | 100.00 | %
Jiwin S.A. (3) |  | Uruguay |  | Investment |  |  | - |
Liveck S.A. (2) |  | British Virgin Islands |  | Investment |  |  | 100.00 | %
Real Estate Strategies LLC |  | USA |  | Investment |  |  | 100.00 | %
Efanur S.A.'s direct interest: |  |  |  |  |  |  |  |
Real Estate Investment Group VII LP (REIG VII) (3) |  | Bermuda’s |  | Investment |  |  | - |
DFL's and DN BV's direct interest: |  |  |  |  |  |  |  |
Dolphin IL Investment Ltd. |  | Israel |  | Investment |  |  | 100.00 | %

(1) | The Company has consolidated the investment in Llao Llao Resorts S.A. and UT IRSA and Galerías Pacífico considering its equity interest and a shareholder agreement that confers its majority of votes in the decision-making process.
(2) | Includes Tyrus’ and IRSA S.A.’s equity interests.
(3) | Liquidated in October 2022.

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