Sao Martinho SA (SMTO3.SA)
19 Jan 2017
|Market Cap(Mil.):||R$ 6,714.75|
SAO PAULO Brazil's oil company Petróleo Brasileiro SA has agreed to sell its 49 percent stake in the sugar and ethanol joint venture Nova Fronteira Bioenergia SA to partner São Martinho SA , both companies said in securities filings on Thursday.
SAO PAULO State-controlled Petróleo Brasileiro SA on Thursday will sign a deal to sell its 49 percent stake in Nova Fronteira Bioenergia SA to partner Sao Martinho SA for up to 500 million reais ($150 million), a person directly involved in the transaction said on Wednesday.
SAO PAULO, Nov 9 Sao Martinho, one of Brazil's largest cane milling groups, lowered its guidance for sugar output to 1.297 million tonnes from 1.356 million previously due to a smaller-than-expected cane crush, the company said in a market filing on Wednesday.