Bunge may become Brazils 3rd biggest group in sugar and alcohol
O Estado de S. Paulo
Multinational Bunge, one of the biggest agribusiness groups in the world is close to becoming the third biggest Brazilian producer of sugar and alcohol. According to some sources, the company would have signed an agreement for the acquisition of Grupo Moema's interest in six plants, by an estimated value between US$ 100 and US$ 105 per ton of processed sugar cane. Since Grupo Moema has a crushing capacity for nearly 13.5 million tons, the estimate is that the business may reach US$ 1.35 billion. The value would be well-above the US$ 65 per ton paid by Cosan for NovAmerica.
Headquartered in Orindiúva, in the interior of São Paulo, Grupo Moema is formed by six plants, of which the company holds the control of only two: Usina Moema, in which it holds 100% of the capital, and Usina Frutal, with 56% of the control (the other 44% are in the hands of minority shareholders). The company does not have the control over the four other plants.
The acquisition will make Bunge have the crushing of 16 million tons of sugar cane as of the next harvest. Only with Grupo Moema, Bunge gains the sugar cane crushing of nearly 13.5 million tons, a production of 16.5 million sacks of sugar and 637 million liters of ethanol per harvest. The multinational already holds 80% of the Usina Santa Juliana plant, in the region of the Triângulo Mineiro, which has an estimated crushing capacity of 2.5 million tons of sugar cane. Bunge also has 2 projects under construction: the Pedro Afonso plant, in Tocantins and the Usina Monte Verde plant, in Ponta Porá, in Mato Grosso do Sul.
If the purchase of Grupo Moema is confirmed by Bunge, it will place the company at the top of the biggest producers of Brazil. It will be only behind Cosan (60 million tons of sugar cane crushing) and LDC-SEV (40 million) and a little ahead of São Martinho and Guarani (with nearly 13 million tons each). The Coopersucar cooperative company has crushing capacity of 67 million tons of sugar cane, taking into account all its members.