French sugar group Tereos said on Friday it has entered into negotiations to acquire Petroleo Brasileiro SA’s 45.9 percent minority stake in Brazilian-based Guarani, confirming an earlier announcement by Petrobras.
Cooperative group Tereos is the majority shareholder of Guarani, which has sugar and ethanol factories, with a 54.1 percent holding.
“This announcement follows the announcement of Petrobras’ Divestment plan in September 2016 which provides for the exit of all biofuels production activities,” Tereos said.
“The decision to start these negotiations is no assurance that an agreement will be found or that the transaction will complete,” Tereos said in a statement.
Petrobras had announced the negotiations in a stock market filing in Brazil earlier on Friday.
By Sybille de La Hamaide
Source: Reuters
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
