Brazil’s competition regulator CADE approved Japanese trader Sumitomo Corp’s planned acquisition of a minority stake in Cosan Biomassa SA, a Brazilian producer of sugarcane pellets for generating electric power.
Sumitomo announced its intention to buy up to 20% of shares in Cosan Biomassa. The move is part of a strategic collaboration for the development of the sugarcane pellet business with the target’s owner — sugar and ethanol producer Cosan SA Industria e Comercio.
The Brazilian firm has developed a fuel pellet made from sugarcane residues. With the help of Sumitomo, it will raise its exports to Japan and Europe, while also increasing sales at home. The business aims to produce 2 million tonnes of sugarcane pellets by 2025.
Full Content: Renewables
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Pushes Review of CoStar’s Commercial Real Estate Antitrust Case
Jan 31, 2024 by
CPI
UK’s CMA Investigates Ardonagh’s Atlanta Group and Markerstudy Merger
Jan 31, 2024 by
CPI
Greenberg Traurig Grow Financial Regulatory and Compliance Practice
Jan 31, 2024 by
CPI
Dutch Regulator Fines Uber €10 Million for Privacy Violations
Jan 31, 2024 by
CPI
DOJ Investigates AI Competition, Eyes Microsoft’s OpenAI Deal: Bloomberg
Jan 31, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – The Rule(s) of Reason
Jan 29, 2024 by
CPI
Evolving the Rule of Reason for Legacy Business Conduct
Jan 29, 2024 by
CPI
The Object Identity
Jan 29, 2024 by
CPI
In Praise of Rules-Based Antitrust
Jan 29, 2024 by
CPI
The Future of State AG Antitrust Enforcement and Federal-State Cooperation
Jan 29, 2024 by
CPI