Global agribusiness giant Cargill is set to take full control of Brazilian sugar and renewable energy firm SJC Bionergia after acquiring the remaining 50% share of the company.
A partner in the Brazilian company since 2011, Cargill said it had signed a purchase and sale agreement for the remaining share.
The transaction was subject to regulatory approval, the company said on 6 February.
“Having SJC as a 100% Cargill-controlled company is an important reinforcement in our growth strategy in renewable energy,” Paulo Sousa, president of Cargill in Brazil, said.
Active in Brazil for 60 years, Cargill said it had invested more than BRL6.8bn (US$1.17bn) in its local operations in recent years.
SJC Bioenergia produces raw sugar, hydrated and anhydrous ethanol, corn oil and high-protein distillers’ dried grains (DDGs) from sugarcane and corn, and is also an electricity producer.
The company has two agro-industrial units in the Brazilian municipalities of Quirinópolis and Cachoeira Dourada, both in Goiás state.
