Goldman Sachs invests in Brazilian biofuels
2nd August, 2007
US investment bank Goldman Sachs is set to invest 400 million reais (€156 million) into Brazil’s second largest sugar and ethanol producer Santelisa Vale.
Santelisa Vale will process 18 million tonnes of sugarcane this year. The company also has plans for six new sugar mills, with a capacity to crush 2.5 million tonnes of cane each – a total of 15 million tonnes.
It also has a 72% stake in Crystalsev, a company involved in the commercialisation of sugar, ethanol, and electricity, with investment in a specialised ethanol terminal.
"Goldman Sachs brings the necessary expertise for us to leverage our growth plans in the coming years," Santelisa Vale CEO Anselmo Lopes Rodrigues, says.
Santelisa Vale has five mills in Brazil. Four of the new mills will be built in partnership with private equity funds in Companhia Nacional de Açúcar e Àlcool (CNAA), three of which will be located in Minas Gerais and one in Goiás. The other two new mills are Santa Vitória (in Minas Gerais), in which the company holds a 72% stake, and Tropical (in Goiás), with a 50% stake.
Santelisa Vale was formed as the result of a merger in July between Vale do Rosário and Usina Santa Elisa.