FIP Agroenergia takes control of Atvos

By Atvos

January 30, 2023

This is a machine translation of the press release originally published in Portuguese.

FIP Agroenergia is the new controller of Atvos and will be responsible for paving the way for Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, a global sovereign investor based in Abu Dhabi, to join the company. As of the present date, Giovanni Forace assumes the position of interim CEO of the company.

The new controller is committed to implementing the agreed conditions for Mubadala Capital to invest BRL 500 million in exchange for a 31.5% stake in the company. The investment should be allocated to the agricultural and industrial areas, with the aim of resuming Atvos' production capacity and surpassing the mark of 30 million tons of sugarcane crushing per harvest. In the last cycle, the company ground 22.5 million tons from its operations in the states of Goiás, Mato Grosso, Mato Grosso do Sul and São Paulo.

“Atvos is one of the main companies in the sugar-energy sector and we see a high capacity for growth and transformation of the company, whether in operational, financial or socio-environmental aspects”, says Giovanni Forace, interim CEO of Atvos. “This transition is a milestone for Atvos, as it puts an end to any corporate conflict and consolidates the sustainability of the business towards the end of its judicial recovery process”.

The new controller will continue the company's business plan, seeking to increase its productivity rates, in order to generate more security and value for shareholders, customers, partners, employees and other stakeholders of the company.