News International Sugar Journal

Brazil – Cargill in talks to buy two sugar mills [Registered]

Black River offered a total BRL680 million (US$176 million), BRL530 million in debt assumption and BRL150 million in investments. Its proposal to assume BL530 million in debt already takes into account a 30% discount (over a debt of about BRL750 million). Banks that opt for this discount will be paid in ten years, with a two-year grace period, notes Valor. The American firm also proposed paying in cash creditors that accept a 50% discount or haircut valued at around BRL680 million including debt.…

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