Major agricultural group Tereos has finalised a deal to buy Brazilian sugar and ethanol producer Guarani SA. France based Tereos already owns 54.03% of Guarani’s share capital and with the new deal – worth USD-202-million (EUR 193.3m) – Tereos will acquire the remaining 45.97% interest from Petrobras’ subsidiary – Petroleo Brasileiro SA. This will make Tereos the sole owner of Guarani.
Guarani owns and operates seven sugar and ethanol production facilities and two refineries in Brazil’s Sao Paulo. In 2016-17 crop, the company produced approximately 1.6 million tonnes of sugar from nearly 20 million tonnes of sugarcane. It is more than 630 million litres of ethanol and feed over 1 GWh of power into the grid. Continue reading