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Shree in Brazil move

This article was originally published in The Public Ledger

INDIA'S Shree Renuka Sugars has taken over Brazilian sugar and ethanol firm Vale Do Ivai SA Acucar E Alcool (VDI), including its debt, for about $82m. It said VDI is attractive because of its good logistics, port access to Brazil's southern Parana state and opportunity for organic growth. The firm said it is "most interested in sugar and ethanol mills in Sao Paulo and Parana state".

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