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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: arun gera who wrote (62283)	3/30/2010 2:36:28 AM
From: elmatador	Respond to of 217714

Tereos Merges Brazil sugar, European wheat, Indian Ocean sugar. It plans to regroup key sugar, starch and ethanol businesses in France and abroad and spin them off in a new company to be listed in Paris and Sao Paulo. Tereos to spin off key assets in market listings Mon Mar 29, 2010 6:54pm EDT By Sybille de La Hamaide PARIS, March 29 (Reuters) - Europe's third-largest sugar maker, Tereos, said it planned to regroup key sugar, starch and ethanol businesses in France and abroad and spin them off in a new company to be listed in Paris and Sao Paulo. Tereos said on Monday it would merge its listed Brazilian branch Acucar Guarani SA (ACGU3.SA), its European grain and starch businesses and sugar cane assets in the Indian Ocean under a new single subsidiary named Tereos Internacional. "What will be listed represents around two thirds of our current assets," chief executive Philippe Duval told Reuters. Only Tereos's original activities of sugar beet processing in Europe would stay within the parent company, he said. "We want to benefit from the consolidation taking place in Brazil and develop in the starch sector," Duval said. The new entity will have proforma annual sales of $2.5 billion and earnings before interest, tax, depreciation and amortisation (EBITDA) of $366 million, Tereos said. It will have its headquarters in Sao Paulo and seek a dual listing in Brazil and in France where Tereos Internacional will keep around 20 percent of its business. "This double listing also aims at reinforcing the group's international anchorage and will enable us, as soon as market conditions will be met, to finance this growth through a capital increase," Duval said. Tereos declined to give a precise date for the listing. ASIA IN SIGHT New opportunities could come from products such as health and nutrition or green chemistry, but the main idea is to expand in high-growth countries in America and mostly Asia. "We seek more to extend our activities geographically. It is not envisaged nor conceivable to over-diversify," Duval said. As part of the regrouping, which Tereos expects to complete by end-June, the French company estimated Guarani shares at 686 million euros and Tereos's European businesses at 1.02 billion euros -- including 393 million for grain assets alone. "It results from these valuations a 40/60 percent parity between Guarani and Tereos EU," Tereos said, adding though that the ratio of Guarani shares for Tereos Internacional shares remained to be negotiated. Tereos will own around 88 percent of Tereos Internacional, with the remaining 12 percent in the hands of Guarani's minority shareholders, provided experts confirm the value of the Brazilian unit, Tereos said. Any future capital increase would dilute its share, but Duval said the French agribusiness company intended to keep control of around two thirds of Tereos Internacional. The head of Tereos operations in Brazil and executive chairman of Guarani, Jacyr Costa, said the country's cane industry would continue its trend of consolidation which has seen large oil firms such as Shell (RDSa.L) enter the sector. "We're going to have a rate (of production growth) higher than the industry's," Costa said on a conference call, citing the industry forecast for 7 to 10 percent annual growth in the next few years. He said this was likely to be achieved through acquisitions, but said there were none being negotiated now. The group's total debts are estimated at 900 million euros. Headquartered in Lille in northern France, Tereos is a cooperative of 12,000 French farmers. It was born from the merger of Beghin-Say and beet sugar cooperative Union SDA. In 2005, the company merged with another French cooperative, Sucreries & Distilleries des Hauts de France (SDHF), creating one of Europe's biggest sugar producers. The grower-owned group is now the largest European sugar maker after Germany's Suedzucker and Nordzucker, the number one ethanol producer and the third starch-glucose maker. In Brazil, it is the fourth-biggest sugar and ethanol maker. (Additional reporting by Roberto Samora in Sao Paulo; editing by David Cowell and Andre Grenon)

To: arun gera who wrote (62283)	4/1/2010 6:02:28 AM
From: elmatador	Respond to of 217714

India exports its model: Wipro expands its office in South America Wipro Technologies has opened its new global delivery center in the city of Curitiba, Brazil. The center was inaugurated by the mayor of Curitiba, Mr. Beto Richa, and the Consul General of India in Brazil Mr. Jeitendra K. Tripathi. With 4 years of operation in Brazil, Wipro is expanding in South America region by making this new center at Curitiba as the regional headquarters for other Wipro offices in São Paulo, Brazil and Buenos Aires, Argentina. The center will serve global and domestic clients. Curitiba office serve Wipro's 20 clients in the areas of IT and BPO. This facility has a head count of 350, and Wipro has plans to up the count depending on the business situation. Wipro says Curitiba provides better talent pool and infrastructure support in this region. "Wipro Technologies is bringing to Curitiba the ultimate technology and method in terms of IT Services and system's management", said the Mayor of Curitiba, Beto Richa. According to him, the city offers the best in life quality and infrastructure. "Wipro Technologies is an innovation company and a great employer brand, and its investments in Curitiba will bring even more knowledge to our city and state", he commented. Speaking at the inauguration, Fernando Estrázulas, director of Wipro Technologies for Latin America, said "We are delighted to inaugurate the Curitiba center which is one of Wipro's global strategic centers. Brazil is an important market both in terms of domestic as well as international business and this center will ensure that our local and global customers continue to benefit from Wipro's quality processes, innovative solutions and a global delivery model."