Wilmar, Raizen to form sugar venture to rival Cargill tie-up
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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.
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