Brazil Sugar Firm Raises Equity

Acucar Guarani has raised BRL238.8m through a private share placement. The Brazilian sugar producer issued 119.4m shares at BRL2.00 each to existing holders in an offer closed March 5. The controlling shareholder, French farming group Tereos, exercised its full rights and now holds 69.3%, with 27.6% in free float. Proceeds will be used to reinforce the capital structure. UBS Pactual managed the transaction. Guarani shares closed Wednesday on the Bovespa at BRL2.00.