(SeeNews) - Nov 6, 2012 - Brazilian sugar and ethanol trader Copersucar took over US biofuel distributor Eco-Energy Holdings Inc to form the world’s largest biofuel trader with a combined annual capacity of 2.6 billion gallons (10 bn litres), the two companies said Monday.
Currently Eco-Energy holds a 9% share in the US ethanol market, generating revenue exceeding USD 3 billion (EUR 2.3bn).
In 2012/13 season, Copersucar expects to have a 24% market share in the centre-south region of Brazil, distributing over 1.3 billion gallons of ethanol and generating revenues estimated at USD 7.5 billion.
Coperscucar's chairman Luis Roberto Pogetti said that the investment in Eco-Energy gives his company a strong presence in the world’s two largest ethanol markets - the US and Brazil.
The closing of the deal remains subject to regulatory approval.
(USD 1 = EUR 0.775)