Deals
Another Brazil Ethanol Producer Seeks Bankruptcy Protection
- Abengoa Bioenergia Brasil had failed to sell two cane mills
- Sector has seen wave of bankruptcies after a commodity slump
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Abengoa Bioenergia Brasil SA became the latest Brazilian sugar and ethanol producer to file for bankruptcy protection following the country’s economic crisis and a slump in commodity prices.
The company, a unit of Spain’s Abengoa SA, requested judicial protection in a court in Santa Cruz das Palmeiras municipality, Sao Paulo state, it said in an emailed statement Tuesday. Its bank debt was 837 million reais ($265 million) as of December.