Acquisition of Sugar Company of Jamaica, Petrojam ethanol plant by Brazil’s Infinity BioEnergy fails

In Jamaica, the national government announced the collapse of negotiations with Brazil’s Infinity Bio-Energy over the sale of the state-owned Sugar Company of Jamaica (SCJ) and the associated Petrojam ethanol plant. The government said that the Brazilians could not raise funding for the acquisition, but added that the government remains committed to divesting itself of the operations and exiting the sugar business. Closing was originally extended from last September to December 31st after Infinity experienced difficulty in financing the agreement.

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