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
Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.
PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.
Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.