Cargill Agrees to Sell Stake in World’s Top Sugar Trader
Bloomberg
-
Tuesday, March 30, 2021
Brazil’s Copersucar will take over Cargill’s Alvean stake. Alvean accounts for one-fifth of world’s sugar shipments. Cargill Inc. agreed to sell its 50% stake in the world’s largest sugar trader to its Brazilian partner Copersucar SA as the closely held U.S. agricultural giant shifts focus to its food processing and meat businesses. The deal to offload its stake in Alvean, which handles about a fifth of the world’s sugar shipments, was signed on Tuesday, according to people familiar with the matter who asked not to be identified because the information is private. The transaction is subject to approval from antitrust authorities. Cargill and Copersucar declined to comment.
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