Cargill and Copersucar have cleared all regulatory requirements for the formation of Alvean, their 50/50 joint venture. Alvean will function as an independent operation for the trade in raw and white sugar. The deal will create a company with a network, which will produce 10% of the world’s sugar exports through 47 mills. Cargill will gain access to Copersucar’s Brazilian sugar, which accounts for nearly a fifth of Brazil’s annual cane crop without the expense of buying or building assets, and Copersucar will benefit from Cargill’s global presence and marketing expertise. Each of the company’s ethanol businesses and fixed assets will be exempt from the deal. Alvean’s trading activities will be based in Geneva, Switzerland, but the company will also have offices in Bangkok, Bilbao, Delhi, Dubai, Hong Kong, Jakarta, Miami, Moscow, Sao Paulo, and Shanghai.
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