Knight will spend 596 million reais ($149 million) for 51.2% of Biotoscana. After the acquisition, the Canadian company will offer the same price, 10.96 reais per share, to minority shareholders.

The total deal value is expected to reach 1.16 billion reais, or 1.3 billion if Biotoscana's debt is included, the company added. ($1 = 3.9902 reais)

(Reporting by Tatiana Bautzer; Editing by Muralikumar Anantharaman)