Mubadala may pay up to $500M for 31.5% of Atvos

In Brazil, Reuters reports that UAE investment firm Mubadala may pay up to $500 million for a 31.5% Atvos later this year or next year when the company comes out of bankruptcy protection. Many major Brazilian sugarcane processors are expanding sugar rather than ethanol production, but Atvos is going in the other direction, betting more on ethanol and possibly integrating corn ethanol production as well. Although a second year of a global sugar deficit means higher sugar prices in the short-term, Atvos believes the better bet in the longer term is on ethanol.