Mitsui & Co., Ltd. (Tokyo; www.mitsui.com) has reached an agreement to sell its entire stake in its Brazil-based associated company, Santa Vitória Açúcar e Álcool Ltda (SVAA), to The Dow Chemical Company (Midland, Mich.; www.dow.com) for approximately $200 million. The transaction is expected to be completed by July 2016. Based in Santa Vitória, Minas Gerais, Brazil, SVAA is involved mainly in sugarcane-based biomass operations, including the production and sales of bioethanol, bioethylene, biopolyethylene and other sugarcane-derived chemicals (to be expanded). Prior to this announcement, Dow and Mitsui were each 50% shareholders in SVAA.
Mitsui to sell stake in Brazil-based bioethanol JV to Dow
| By Mary Bailey