Bulgaria’s Agria to buy 100% of ethanol producer Almagest

In Bulgaria, SeeNews reports Agria has made a bid to take over local bioethanol producer Almagest, buying 100% of the company’s shares. Almagest produces ethanol from grain while Agria is a consolidated agricultural group in the country. The integration of the ethanol producer into the wider group will allow for it to enter the renewable energy sector, diversify its portfolio and expand its reach across the country. Agria expects the acquisition to also add to positive cash flow and long-term sustainability.