European Commission - Daily News
Brussels, 21 April 2016
The European Commission has approved under the EU Merger Regulation the acquisition of joint control over Brazilian company Biomassa by Sumitomo of Japan and Cosan of Brazil.
Biomassa is currently solely controlled by Cosan and sells sugarcane pellets made from sugarcane by-products. Cosan manufactures and trades sugar and ethanol, among others, and co-generates electricity from sugarcane by-products, mainly in Brazil. Sumitomo is a global, integrated trading company and has no activities related to sugarcane products.
The Commission concluded that the proposed transaction would raise no competition concerns as Biomassa has no activities in the European Economic Area. The operation was examined under the simplified merger review procedure.
More information will be available on the Commission's competition website, in the public case register under the case number M.7980. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Yizhou Ren – Tel.: +32 229 94889)
Source: Europa.eu (Copyright European Commission)