Biopalma

Biopalma was created on 20 April 2007, when Mineração Império Serrano Ltda. became an S.A. Originally, Mineração Santa Elina controlled 99% of the company, and MSP controlled 1%. On 10 June, Pembroke Pines Fund LLC bought 99.98% of the shares, thus becoming the biggest actionist. On 22 November, Pembroke Pines transferred their shares to PMS Participações Ltda and Santa Elina transferred their shares to Grupo MSP. On 4 April and 27 June 2008, shares were emitted for Bio Participações S/A. In the new configuration, PMS controlled 83.84% of the company, Bio Participações controlled 16.14% and MSP 0.02%. On 15 July 2009, PMS transferred a debt of R$ 25.5 million with Banco Itaú to Biopalma. On 16 December, PMS donated shares to Bio Participações, that began to control 21.7% of the company. In the beginning of 2010, MSP merged PMS (both were subsidiaries from Família MSP), thus controlling 78,3% of the company. Grupo MSP owned the remaining 30% of Biopalma. Both companies formed a joint venture called Biovale. In 2016, Vale had 98,12% of Biopalma, Grupo MSP had 1,23% and Biopalma Participações S.A. had 0,65%. ==Operation==

Initially, Biopalma bought 70 thousand ha on Pará for oil palm plantation, In 2014, Biopalma made a partnership with Embrapa Amazônia Oriental to launch a program where 60 families were taught how to plant cassava between the oil palm trees. In 2009, the company made a consortium with Vale to produce palm oil. In 2016, 19% of their oil production was for external markets, with 63% for Latin-American countries and 37% for European countries. Vale predicted that the factory should start producing biodiesel in 2015. ==Controversies==

Fiscal fraud According to the Ministry of Finance, in 2011 Família MSP sold Biopalma to Vale, but it made a series of transfers through Irajá Consultoria and used MSP FIP tax exemption to fulfill the sale. In this way, the company avoided paying taxes to the Government of Brazil. The process was closed on 20 November 2018, as it was understood the transferring process was valid. ==Prizes==

In 2015, Biopalma was a finalist on Agropará Prize in the Palm category, but lost to Mejer Agroflorestal LTDA. ==References==