The starch and sweeteners giant Tereos confirmed on 2nd January the purchase of the 45.97% stake in Guarani. held by Petrobras, through its subsidiary Petrobras Biocombustível, US$202 million.
Brazil – Tereos in talks with Petrobras to buy the rest of the stake in sugar business [Registered]
France’s sugar giant Tereos has started talks to acquire Petroleo Brasileiro SA’s 45.9% minority stake in their joint venture Guarani, as the Brazil’s state-owned firm divests to reduce debt and focus on oil production.
Brazil – Petrobras increases stake in the joint venture Guarani with Tereos
Tereos, which said this was the final step of a strategic partnership signed with Petrobras in 2010, remains the majority shareholder with 54.1 percent of the capital.
Brazil – Petrobras seeks to divest from its ethanol business [Registered]
The company, whose $125 bln of debt is the biggest of any oil company, looks to recover from the on-going corruption scandal, which saw many of its executives, and various Brazilian politicians resign from their positions, plans to sell as much as $13.7 bln of assets by the end of 2016.
Monthly Snapshot
Raw sugar for March delivery settled at 19.82 cents/pound on January 18 after reaching a two-and-a-half-week high earlier in the session at 20.25 cents. The white sugar contract expiring in […]
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