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Indian Refiner Takes Brazil Sugar Stake

Feb 21, 2010

Indian refiner Shree Renuka Sugars is continuing its expansion into Brazil through the acquisition of a majority stake in sugar/ethanol producer Grupo Equipav for BRL600m. Shree Renuka said Sunday it is buying at least 50.79% of the company, which had net debt of approximately BRL1.5bn at the end of 2009. The investment will fund mill capacity expansion, pay down debt and increase working capital. According...

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The most pressing issue is related to guaranteeing this growth of the system, the savings. We have to guarantee that this growth is followed by better asset managers on the side of the Afores.

Carlos Ramírez, Mexico’s pension regulator, Consar


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