June 14, 2018 |
Louis Dreyfus Company has increased its stake in its Brazilian sugar business Biosev to 94% after a BRL3.46bn ($931m) capital increase.
The Dutch-based commodity merchant group said in April that Biosev shareholders would spend up to BRL4.8bn to buy 1.1bn new shares for BRL4.32 each. Biosev ended up issuing 801m shares at the same price, but minority shareholders spent just BRL211,000 for new stock in the company.
Now the IFC owns 1.26% of Biosev, Santelisa has 1.19% and other shareholders have
Commodity merchant firm now owns 94% of its Brazilian sugar business