Ecodiesel, Vanguarda do Brasil plan $1.39b merger

In Brazil, one of the country’s largest biodiesel producers Ecodiesel is planning a $1.39 billion merger with agricultural producer Vanguarda do Brasil. Erique Banuelos, who owns 50% of Vanguarda, also owns 22.4% of Ecodiesel, and suggested the merger of the two companies. The transaction, which could be completed in the next 50 days, was re-introduced after the reformation of Ecodiesel’s board which now has six members instead of seven, with the expectation being that the dropped seat was held by someone who opposed the merger.

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