Cargill sells stake in Alvean to Copersucar, leaves sugar trading
By Roberto Samora and Marcelo Teixeira, Reuters
March 30, 2021
SAO PAULO/NEW YORK (Reuters) - Cargill said on Tuesday it is leaving the global sugar trading business after agreeing to sell its 50% stake in the joint venture Alvean, the world’s largest sugar trader, to Brazil’s Copersucar.
Copersucar and Cargill said they reached an agreement to end their partnership at Alvean, with the Brazilian company becoming the sole shareholder of the company, which moves around 12 million tonnes of sugar per year, or around 20% of the global trade of the sweetener.
The companies declined to reveal financial terms of the deal, which depends on approval by Brazilian antitrust agency CADE...