Copersucar and Newcom announced the creation of a joint venture to operate in the purchase and sale of electricity, with an eye on synergies between the Free Energy Market and the sugar-energy sector.
Copersucar is recognized as a global leader in the commercialization of sugar and ethanol, while Newcom represents a subsidiary of Comerc Energia, one of the country's main companies in the field of energy solutions.
As disclosed in a press release, the partnership will be implemented through Copersucar's investment to acquire a 50% stake in Newcom. The exact value of the transaction was not revealed.
The new company will have shared control and operate independently, focusing mainly on the Free Energy Market, which is experiencing accelerated growth in Brazil.
According to Tomás Manzano, president of Copersucar, the agreement is part of the company's strategy to expand its business portfolio to a market with “great opportunities, which tends to be more dynamic and competitive and which is redefining relationships between consumers and suppliers power".
“The formalization of the deal opens up opportunities for both sides, based on the financial strength of a joint venture”, assessed Pedro Kurbhi, vice-president of Trading at Comerc Energia. “It will be able to act assertively and become more present in the value chain of the sugar-energy sector, which is a promising market and will continue to grow over the years.”
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