Caldic, a global chemicals distributor majority-owned by US private equity firm Advent International, is under investigation in Brazil over alleged involvement in a large-scale methanol diversion scheme linked to organised crime, according to a report by Reuters.
The report cites company statements and regulatory documents as revealing that authorities are examining whether methanol supplied by Caldic’s Brazilian subsidiary was diverted into an illicit fuel operation allegedly controlled by the...
Continue Reading
Sign up for FREE to read the full article and access 128K+ alternative investment headlines.