Itaú Bank Acquires Minority Stake in CMAA's New Energy Arm

Itaú Bank has officially become a minority shareholder in CMAA Energia, the recently established energy arm of Companhia Mineira de Açúcar e Álcool (CMAA). While Itaú holds a stake, the control of the subsidiary will remain with the parent company, whose capital is held by the JF Citrus and IndoAgri groups. CMAA Group specializes in the production of sugar and ethanol. During the 2024/25 harvest season, the company produced 735,000 tons of sugar and 440.8 million liters of ethanol. Last year, CMAA announced an ambitious investment plan of R$3.5 billion by 2033 to expand its production capacity in the Triângulo Mineiro region. In addition to its core sugar and ethanol businesses, CMAA also generates energy by repurposing sugarcane bagasse residues. In the last harvest, the company produced 402,000 MWh of bioenergy, with a portion supplying its own operations and the remainder being commercialized in the market. Although the specific plans for CMAA Energia are not yet fully clear, Itaú Bank's entry undoubtedly marks a significant step forward for the CMAA group in the electricity sector, signaling further expansion and deepening of its presence in this industry.