Tereos to raise up to $178M for bio-based expansions in Brazil China, France

In Brazil, Tereos Internacional, a sugar, starch and ethanol producer, plans to raise between $121.7 million (252 million reais) and $178.7 million (370 million reais) in a capital increase to develop its starch activities in China and Brazil, and widen its activities at an ethanol plant France. Current shareholders will be offered a subscription right at $1.25 (2.60 reais) per share. The shares closed at $1.29 (2.68 reais) on June 12.

Tereos Internacional, based in Sao Paolo, is the sugar cane and cereals branch of French growers-owned group Tereos, one of the top sugar, ethanol and starch makers in the European Union.

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