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Brazil: Watchdog passes Raízen, Wilmar sugar joint venture

By  |  March 17, 2016

Brazilian antitrust watchdog Cade approved a joint venture formed by sugar and ethanol producer Raízen Energia SA and trader Wilmar International to export sugar, according to the government’s official gazette on Thursday.

Cade approved the deal with no restrictions despite opposition from sugar trader Sucden, which said it would put 90 percent of the trade in very high polarization sugar, the type commonly exported to refiners overseas, in the hands of just two players.

Raízen itself resulted from a joint venture between Cosan SA Industria e Comercio, Brazil’s largest producer of sugar and ethanol, and Royal Dutch Shell.

The new venture with Wilmar will be responsible for negotiating all export deals involving Raízen’s sugar.

Full content: Reuters

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