Jamaica News Bulletin - Jamaican News, Sports and Entertainment. - DJ BER Pays BRL160M For Stake In Infinity's Brazil, Jamaica Ops

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DJ BER Pays BRL160M For Stake In Infinity's Brazil, Jamaica Ops

Wednesday, 23 July 2008

Brasil Energia Renovavel, or BER, has purchased a 11% stake in the Brazilian and Jamaican operations of Infinity Bio-Energy for 160 million Brazilian real ($110 million), BER said in a press release late Wednesday.

BER, a renewable energy holding group, will pay $5 per share in the UK-based Infinity units.

The holding group will take a stake in Infinity's six sugar and ethanol mills in Brazil and five mills in Jamaica, said BER CEO Charles Machado.

BER, which is also building five sugar and ethanol mills in Brazil, is currently in talks with Infinity about a possible management role, said Machado.

Brazil is the world's leading ethanol exporter.

Article Source: Trading Markets.com

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