EX-8.1 3 cresud_ex81.htm LIST OF SUBSIDIARIES cresud_ex81.htm

EXHIBIT 8.1

 

LIST OF SUBSIDIARIES

 

The following table lists our subsidiaries and their jurisdiction of incorporation as of June 30, 2025:

 

Agricultural Business

 

 

 

 

 

 

 

% of ownership interest held by the Company

 

Name of the entity

 

Country

 

Principal activity

 

06.30.2025

 

Cresud's direct equity interest in:

 

 

 

 

 

 

 

BrasilAgro (1) (2)

 

Brazil

 

Agricultural

 

 

 35.22 %

Futuros y Opciones.Com S.A. (3)

 

Argentina

 

Brokerage

 

 

 51.21 %

Helmir S.A. 

 

Uruguay

 

Investment

 

 

 100.00 %

IRSA (4)

 

Argentina

 

Real estate

 

 

 54.06 %

JOFSHI S.A.U.

 

Argentina

 

Investment

 

 

 100.00 %

BrasilAgro's direct equity interest in:

 

 

 

 

 

 

 

 

Araucária Ltda. 

 

Brazil

 

Agricultural

 

 

 100.00 %

Cajueiro Ltda. 

 

Brazil

 

Agricultural

 

 

 100.00 %

Ceibo Ltda. 

 

Brazil

 

Agricultural

 

 

 100.00 %

Cremaq Ltda. 

 

Brazil

 

Agricultural

 

 

 100.00 %

Flamboyant Ltda.  

 

Brazil

 

Agricultural

 

 

 100.00 %

Jaborandi Ltda. 

 

Brazil

 

Agricultural

 

 

 100.00 %

Jaborandi Propriedades Agrícolas S.A. 

 

Brazil

 

Agricultural

 

 

 100.00 %

Mogno Ltda. 

 

Brazil

 

Agricultural

 

 

 100.00 %

Palmeiras S.A.

 

Paraguay

 

Agricultural

 

 

 100.00 %

Agropecuaria Morotí S.A.

 

Paraguay

 

Agricultural

 

 

 100.00 %

Agrifirma Agro Ltda.

 

Brazil

 

Agricultural

 

 

 100.00 %

Agropecuaria Acres del Sud S.A. (2)

 

Bolivia

 

Agricultural

 

 

 100.00 %

Ombú Agropecuaria S.A.

 

Bolivia

 

Agricultural

 

 

 100.00 %

Yatay Agropecuaria S.A.

 

Bolivia

 

Agricultural

 

 

 100.00 %

Yuchán Agropecuaria S.A. (2)

 

Bolivia

 

Agricultural

 

 

 100.00 %

Futuros y Opciones.Com. S.A.'s direct equity interest in:

 

 

 

 

 

 

 

 

Amauta Agro S.A. (5) 

 

Argentina

 

Agricultural

 

 

 98.25 %

FyO Acopio S.A. (5)

 

Argentina

 

Grain warehousing and brokerage

 

 

 98.25 %

FyO Chile SPA

 

Chile

 

Brokerage

 

 

 100.00 %

Helmir S.A.'s direct equity interest in:

 

 

 

 

 

 

 

 

FyO Holding S.A.

 

Uruguay

 

Investment

 

 

 50.10 %

 

(1)

The Company exercises “de facto control” over BrasilAgro as a result of (i) the percentage and concentration of voting rights of the Company, and the absence of other shareholders with significant voting rights, (ii) the absence of a voting agreement among the other shareholders to vote together as a group, and (iii) the record of attendance to Shareholders’ Meetings and the record of votes casted by the other shareholders; the Company’s effective control to direct BrasilAgro’s relevant activities has been exercised through its seat in the Board of Directors. See Note 7 to our Audited Consolidated Financial Statements for further information regarding to Brasilagro.

(2)

Includes interest indirectly held through Helmir.

(3)

As of June 30, 2025, the Company owns 51.75%, of the common shares of Futuros y Opciones S.A (FyO), respectively. The preferred options held by FyO management have only economic rights, the voting rights are held by common shareholders.

(4)

As of June 30, 2025, Helmir does not own any stake in IRSA.

(5)

Includes direct participation of Cresud.

 
 

 

 

Urban Properties and Investments Business

 

 

 

 

 

% of ownership interest held by the Company

 

Name of the entity

 

Country

 

Principal activity

 

06.30.2025

 

IRSA's direct equity interest:

 

 

 

 

 

 

 

ECLASA

 

Argentina

 

Investment

 

 

 100.00 %

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.U.

 

Uruguay

 

Investment

 

 

 100.00 %

Tyrus S.A.

 

Uruguay

 

Investment

 

 

 100.00 %

Arcos del Gourmet S.A.

 

Argentina

 

Real estate

 

 

 90.00 %

Emprendimiento Recoleta S.A. (in liquidation)

 

Argentina

 

Real estate

 

 

 53.68 %

Fibesa S.A.U.

 

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 %

We Are Appa S.A.

 

Argentina

 

Design and software development

 

 

 93.63 %

Shefa Fiduciaria S.A.U.

 

Argentina

 

Fiduciary

 

 

 100.00 %

Fideicomiso Shefa V.C.

 

Argentina

 

Investment

 

 

 100.00 %

Tyrus S.A.'s direct equity interest in:

 

 

 

 

 

 

 

 

DFL y DN B.V.

 

Bermudas/ Netherlands

 

Investment

 

 

 99.65 %

Sheha Holding LLC

 

United States

 

Investment

 

 

 100.00 %

IRSA International LLC

 

United States

 

Investment

 

 

 100.00 %

Liveck Ltd. (2)

 

British Virgin Islands

 

Investment

 

 

 100.00 %

Real Estate Investment Group V LP (REIG V)

 

Bermudas

 

Investment

 

 

 100.00 %

Real Estate Strategies LLC

 

United States

 

Investment

 

 

 100.00 %

DFL's direct equity interest in:

 

 

 

 

 

 

 

 

IDB Development Corporation Ltd.

 

Israel

 

Investment

 

 

 100.00 %

Dolphin IL Investment Ltd.

 

Israel

 

Investment

 

 

 100.00 %

 

(1)

The Company has consolidated the investment in Llao Llao Resorts S.A. considering its equity interest and a shareholders agreement that confers its majority of votes in decision-making process.

 

 

(2)

Includes Tyrus’ and IRSA’s equity interests.