Ackermans seals Brazilian biofuel deal
Belgian holding company Ackermans & van Haaren has signalled its intentions to move into the Brazilian bioethanol market after agreeing to take a minority stake in Alcofina in a preliminary deal.
The move comes after a deal between Ackermans and Sibco Holding, which will see Sibco selling its 30% of Alcofina which in turn holds 45.3% of Swiss trading firm Alcotra, active in the bioethanol trade.
The agreement still had to be approved by the Dutch and German competition authorities, but Ackermans has already stressed its intentions to ‘invest further in new developments in Brazil for the production of bioethanol, thereby targeting sugar cane plantations fulfilling high sustainability criteria.’
The move comes after a deal between Ackermans and Sibco Holding, which will see Sibco selling its 30% of Alcofina which in turn holds 45.3% of Swiss trading firm Alcotra, active in the bioethanol trade.
The agreement still had to be approved by the Dutch and German competition authorities, but Ackermans has already stressed its intentions to ‘invest further in new developments in Brazil for the production of bioethanol, thereby targeting sugar cane plantations fulfilling high sustainability criteria.’
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