Petrobras acquires significant stake in Guarani
Brazilian oil giant Petrobras is to purchase a 45.7% share in ethanol producer Acucar Guarani, previously controlled by France-based sugar, starch and ethanol producer Tereos.
Petrobras Biocombustivel will acquire the stake for $920 million (€706.3 million), valuing the Guarani company at $2.01 billion.
Petrobras will make the payment in three stages in the hope that this will increase the firm’s growth in the ethanol industry, as well as boost Guarani’s investments into biofuels R&D.
In stage one $393 million will be invested in Guarani’s subsidiary Cruz Alta Participações and Tereos will supply its sugarcane from the Indian Ocean and starch assets from Europe.
Within the next five years Petrobras and Tereos may have the opportunity to invest further in the company - $527 million and $345 million respectively, which may result in Petrobras owning a 49% share by the year 2015.
Petrobras Biocombustivel will acquire the stake for $920 million (€706.3 million), valuing the Guarani company at $2.01 billion.
Petrobras will make the payment in three stages in the hope that this will increase the firm’s growth in the ethanol industry, as well as boost Guarani’s investments into biofuels R&D.
In stage one $393 million will be invested in Guarani’s subsidiary Cruz Alta Participações and Tereos will supply its sugarcane from the Indian Ocean and starch assets from Europe.
Within the next five years Petrobras and Tereos may have the opportunity to invest further in the company - $527 million and $345 million respectively, which may result in Petrobras owning a 49% share by the year 2015.
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