Cargill has signed a sales and purchase agreement for a 50% stake in Brazilian sugar and renewable energy firm SJC Bioenergia, adding to the 50% already owned by Cargill and giving it full control of the firm, Cargill announced on Thursday.
SJC Bioenergia operates two agro-industrial units in Quirinópolis and Cachoeira Dourada, both in the state of Goiás, that process sugar cane and corn to produce raw sugar, hydrated and anhydrous ethanol, corn oil and dried distillers’ grains. The company also generates electricity.
The value of the transaction was not disclosed.
“Cargill continues to invest in Brazilian agriculture. In recent years, we have invested more than USD 1.2 billion in our operations and having SJC as a company 100% controlled by Cargill is an important reinforcement of our growth strategy in renewable energy,” said Paulo Sousa, president of Cargill in Brazil.
Cargill has been a joint venture partner in SCJ Bioenergia, together with the USJ Group, since 2011.
Source: theenergyyear.com