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The European Commission approved today a joint venture between Shell Brazil Holding BV, a unit in Royal Dutch Shell, and Brazil's Cosan SA
Together, the companies will produce, sell and commercialize sugar and ethanol in Brazil and abroad. They should also develop and license certain technologies for ethanol as well as provide, distribute and sell transportation fuels in Brazil.
"After examining the operation, the Commission concluded that the transaction will not significantly hinder effective competition in the Eurozone or any substantial part of it, " the EU said in a statement.
Cosan trades in New York as symbol anmd is one of the several spectacular Brazilian companies which have returned over 200% since 2009. We track them all live here.
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