Centro de Tecnologia Canavieira SA announced that it expects to receive BRL 300 million in funding from BNDES Participações S/A - BNDESPAR.
On September 18, 2014, the company received BRL 75 million in its first tranche closing. As part of the transaction, the company also received BRL 7.50 million from the existing shareholders of the company. The company further expects to receive an additional BRL 150 million by March 2015. On closing, BNDES Participações S/A - BNDESPAR will hold 19% stake in the company. The funds will compose the investment plan of BRL 1.2 billion that will run over the next five years by the company.