The Singapore-based agri-business Indofood Agri Resources (IndoAgri) has invested BRL23.6 million real ($9.6 million) to take a 50% stake in a joint venture with a Brazil-based investment holding company J&F Investimentos for the acquisition of a sugar mill in the country.
The BP Verenium Biofuels plant in Jennings, Louisiana, is being offered for sale. The 1.4 million gallons (6.36 mln litres) demonstration-scale facility celebrated its grand opening in 2008 and was acquired by BP Biofuels North America in mid-2010.
The dispute was over ad campaign about high fructose corn syrup. Several sugar producers including global leader ASR Group alleged in a 2011 lawsuit that a Corn Refiners Association advertising campaign describing high fructose corn syrup as “corn sugar” and “natural” was false.