Cargill to boost biodiesel production through acquisition of Granol's soy crushers in Brazil
(Reuters) - Brazil's antitrust watchdog CADE approved U.S. grain trader Cargill's acquisition of Brazilian soy crusher Granol's three soy crushing plants on Wednesday.
The U.S. company last month announced a binding offer to buy the soy crushing plants as it looks to boost biodiesel production and expand operations in the world's biggest soy producer.
The approval, published in the country's official gazette on Wednesday afternoon, also allows Cargill's acquisition of biodiesel plants at Granol's industrial complexes located in the cities of Anapolis, Porto Nacional and Cachoeira do Sul.
With the approval, the U.S. company will have nine Brazilian soy crushing plants, equaling Bunge, according to data from oilseed lobby Abiove.
Cargill did not immediately comment on the matter. Information on the value of the deal was not disclosed.
Granol is maintaining two soybean processing plants in the state of Sao Paulo that produce soybean oil and meal.
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