UPDATE 1-Ackermans seals Brazilian biofuel deal

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BRUSSELS, June 24 (Reuters) - Belgian holding company Ackermans & van Haaren (ACKB.BR: Quote, Profile, Research) has reached a preliminary deal to take a minority stake in Alcofina SA, in a first step into the Brazilian bioethanol market, it announced on Wednesday.

The deal between Ackermans and Sibco Holding SA will give Ackermans 30 percent of Alcofina which in turn holds 45.3 percent of Swiss trading firm Alcotra, active in the bioethanol trade. Ackermans said Wednesday's deal was only the beginning.

"Together with Sibco, (Ackermans) would also like to invest further in new developments in Brazil for the production of bioethanol, thereby targeting sugar cane plantations fulfilling high sustainability criteria," it said in a statement.

The agreement in principle still had to be approved by the Dutch and German competition authorities, Ackermans said.

Ackermans said Alcotra booked turnover of $643 million in 2008 and a net profit of $6.8 million. It added that Alcotra had dedicated storage facilities in Brazil's port of Santos, and that about 85 percent of traded bioethanol comes from Brazil. (Reporting by Anne Jolis; Editing by Greg Mahlich)