(Notícia em Inglês)
Spanish billionaire Enrique Banuelos is seeking to merge his Brasil Ecodiesel Industria & Comercio de Biocombustiveis & Oleos Vegetais SA with Vanguarda do Brasil SA to create a biodiesel and crop producer with a combined value of 2.16 billion reais ($1.4 billion).
Ecodiesel’s board is likely to make a decision on the proposed merger within 60 days, the Sao Paulo-based company said today in a regulatory filing. Vanguarda is valued at 1.2 billion reais and Ecodiesel at about 964.9 million, according to the statement. The Ecodiesel valuation is about 6 percent higher than yesterday’s closing price in Sao Paulo trading.
Spanish billionaire Enrique Banuelos is seeking to merge his Brasil Ecodiesel Industria & Comercio de Biocombustiveis & Oleos Vegetais SA with Vanguarda do Brasil SA to create a biodiesel and crop producer with a combined value of 2.16 billion reais ($1.4 billion).
Ecodiesel’s board is likely to make a decision on the proposed merger within 60 days, the Sao Paulo-based company said today in a regulatory filing. Vanguarda is valued at 1.2 billion reais and Ecodiesel at about 964.9 million, according to the statement. The Ecodiesel valuation is about 6 percent higher than yesterday’s closing price in Sao Paulo trading.
Banuelos’s Veremonte Participacoes SA indirectly owns a controlling stake in both Ecodiesel, a biodiesel producer, and a 50 percent stake in Vanguarda, a soybeans, cotton and corn producer in Brazil. Brazilian farmer Otaviano Pivetta, who is Vanguarda’s controlling shareholder, plans to take a 32 percent stake in the resulting company, according to the statement.
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