Brazilian biodiesel producer, Brasil Ecodiesel, may buy crop producer, Vanguarda Participacoes, for $758 million, Reuters reports. A merger of the two companies will create an agricultural group with a combined value of $1.4 billion.

Vanguarda’s controlling shareholder, Otaviano Pivetta, may acquire a 32% stake in the merged entity. Veremonte Participacoes, a holding company of Enrique Banuelos, owns a controlling stake in Ecodiesel and a 50% stake in Vanguarda.

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