EXHIBIT 8.1
LIST OF SUBSIDIARIES
The following table lists our subsidiaries and their jurisdiction of incorporation as of June 30, 2023:
Agricultural Business
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| % 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: |
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|
|
|
|
|
|
| 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: |
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|
|
|
|
|
|
|
| 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: |
|
|
|
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|
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| 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. |
| 1 |
Urban Properties and Investments Business
|
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|
|
| % of ownership interest held by the Group |
| |||
| Name of the entity |
| Country |
| Main activity |
| 06.30.2023 |
| |
| IRSA's direct interest: |
|
|
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|
|
|
| |
| 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: |
|
|
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|
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| Real Estate Investment Group VII LP (REIG VII) (3) |
| Bermuda’s |
| Investment |
|
| - |
|
| DFL's and DN BV's direct interest: |
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| 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. |
| 2 |