Wilmar, Raizen to form sugar venture to rival Cargill tie-up
New York
RAIZEN Energia SA and Wilmar International Ltd plan to establish a sugar venture in Brazil to rival the partnership between Cargill Inc and Copersucar SA, the nation's leading exporter this year.
The new joint venture will strengthen existing integrated production and trading operations, Sao Paulo-based Raizen, a partnership between Royal Dutch Shell Plc and Cosan SA, said Wednesday in a filing with Brazil's antitrust regulator Cade. The agency is reviewing the proposal. The Latin American country is the world's biggest sugar producer and exporter. Singapore-based Wilmar has sugar operations in countries including Australia, Indonesia and India.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to log into digibank, PayLah! on Thursday
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products
Goldman Sachs scraps EU-era bonus cap for top bankers in UK: source
Thomson Reuters lifts 2024 forecast on first quarter revenue result
US: Wall St opens higher after Fed leaves interest rates alone