FKS Group to acquire a 51% stake in Tietê Agroindustrial from Proterra Investment Partners.

FKS Group, a Southeast Asia-based multinational agribusiness, agreed to acquire a 51% stake in Tietê Agroindustrial, a Brazilian sugar manufacturing company, from Proterra Investment Partners, a global asset manager. Financial terms were not disclosed. Now, with the sugarcane mills in the municipalities of Paraíso and Ubarana, in São Paulo, FKS is entering the sugar production process, with the current joint installed capacity to process 7.2m tons of cane per harvest. And an increase in this capacity is already contracted. At the end of last year, Tietê announced the beginning of investments in expanding its structure by one third to be able to grind 9.6m tons per harvest. The planned investments also provide for the construction of a sugar factory in Ubarana, which should be ready in October.