Cargill and Copersucar have successfully completed all required regulatory clearances to form Alvean, their new 50/50 sugar trading joint venture.
Operating as an independent entity, Alvean will begin integrating global activities to originate, commercialise and trade raw and white sugar, said the firm.
As announced in March 2014 , the newly created Alvean will bring together two of the world's largest sugar trading businesses to form the world's largest sugar trader.
"Our customers will benefit from the complementary strengths of Copersucar and Cargill," said Ivo Sarjanovic, new CEO of Alvean. "We will have a strong combined global supply chain, a worldwide presence and excellent logistics management."
Sarjanovic, who previously headed up Cargill's global sugar business, continued: "I am very confident that we are embarking on an exciting journey which will reshape the sugar industry. We are bringing together the best of both Cargill's and Copersucar's sugar expertise, talents and capabilities, the base on which we build our new and unparalleled company, Alvean."
Alvean's trading activities will be based in Geneva, Switzerland. The joint venture will also have offices in Bangkok, Bilbao, Delhi,Dubai, Hong Kong, Jakarta, Miami, Moscow, Sao Paulo, and Shanghai.