Indonesian food giant buys 50% of Brazilian sugar mill group CMAA

In Brazil, Indonesian food giant Indofood Agri Resources, a unit of the Salim Group, has bought a 50% stake in Companhia Mineira de Acucar e Alcool Participacoes (CMAA) for $71.1 million. CMAA crushes about 1 million metric tons of sugarcane annually at three mills. IndoAgri already owns two sugar mills in Indonesia.