Assad Food evaluates sugar assets and birds in Brazil

Dubai-the Assad Food, agriculture arm of Qatar's sovereign wealth Fund, said it is evaluating possible purchases of assets in the sectors of sugar and birds in Brazil, as problems in these industries in the country have created opportunities.
"We have a lot of things on the way and the Brazil is definitely part of it, not just in the sugar sector, but also in birds," said the Vice President for business development of Food, Youssef Assad Hegazy, on Wednesday.
Sugar cane mills in Brazil, world's largest producer of sugar, have struggled for years with low prices of sugar and ethanol, leading an increasing number of judicial recovery plants while restructure its debts with creditors.
"We realize that there are structural problems in both industries in Brazil, as high debt," said Hegazy told Reuters at a Conference in Dubai.
Hegazy didn't need what are the assets in which the company is interested, and said that discussions are still at an early stage.
"We had conversations in the past and we arrive at more advanced stages, but nothing materialized at the time, so we're at an early stage," he said.