FDBusiness.com

Cargill and Copersucar, the largest Brazilian sugar and ethanol trader, have successfully completed all required regulatory clearances to form Alvean, their new 50/50 sugar trading joint venture. Operating as an independent entity, Alvean will begin integrating global activities to originate, commercialize and trade raw and white sugar.

As announced in March 2014, Alvean will bring together two of the world’s leading and most respected sugar trading operations. Alvean’s trading activities will be based in Geneva, Switzerland. The joint venture will also have offices in Bangkok, Bilbao, Delhi, Dubai, Hong Kong, Jakarta, Miami, Moscow, Sao Paulo, and Shanghai.

“Our customers will benefit from the complementary strengths of Copersucar and Cargill,” says Ivo Sarjanovic, new Chief Executive Officer of Alvean. “We will have a strong combined global supply chain, a worldwide presence and excellent logistics management.”

Ivo Sarjanovic, who previously headed up Cargill’s global sugar business, continues: “I am very confident that we are embarking on an exciting journey which will reshape the sugar industry. We are bringing together the best of both Cargill’s and Copersucar’s sugar expertise, talents and capabilities, the base on which we build our new and unparalleled company, Alvean.”