Investment update

RNS Number : 7058J

Clean Energy Brazil PLC

08 December 2008

 



8 December 2008

CLEAN ENERGY BRAZIL PLC

('CEB' or the 'Company')

Investment update - Usaciga

Clean Energy Brazil plc, an investment company focused on Brazil's sugar cane/ethanol industry, announces an update in relation to its investment in Usaciga.

Due to favourable weather conditions, Usaciga's current crushing activities (which would usually be suspended during December to March due to rainfall) will be extended by two months until the end of January 2009. This will provide Usaciga with additional cash, as approximately 200,000 further tonnes of cane is expected to be processed during these two months (Usaciga has crushed 1.6 million tones in the period from May to November this year).

In order to accelerate a solution for Usaciga's funding requirement and protect the value of their investment, co-owners Agrocana and CEB have decided to explore all strategic alternatives in relation to Usaciga, including the potential sale of the business. This process will be managed by Alvarez & Marsal and Merrill Lynch will be acting as CEB's adviser.

Further enquiries:

Clean Energy Brazil plc Marcelo Junqueira (Chief Executive Officer)	Tel:[phone]
Smith & Williamson Corporate Finance Limited (Nominated Adviser) Azhic Basirov David Jones	Tel: [phone]
Numis Securities Limited (Broker) Charles Farquhar Lee Aston	Tel: [phone]
Fishburn Hedges (Financial PR Adviser) Andy Berry Dan Bradley	Tel: [phone] [e-mail] [phone] [phone]

 

END

 

 

MSCBBBDDGDGGGII