BRAZIL: Beef producer buys Infinity and takes over mills
Published: 03/10/2010, 2:55:39 PM
Grupo Bertin has secured control of ethanol producer Infinity Bio-Energy Brasil Participacoes SA, according to Dow Jones.
The sale is part of Infinity Bio-Energy's judicial recovery proceedings, which is similar to Chapter 11 reorganisation in the US.
Bertin will take control of the Infinity's mills in the Brazilian states of Mato Grosso do Sul, Epirito Santo, Bahia and Minas Gerais, the press officer said.
Although Bertin is best known as a Brazilian meat company, the move shows its commitment to renewable energies such as ethanol, Infinity said in a press release.
US trading company Bunge Ltd. and Asian grain trader Noble Group Ltd. had been reported to be in talks with Infinity.