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SAO PAULO, April 30 (Reuters) - The Brazilian subsidiary of French commodities group Louis Dreyfus confirmed on Thursday that it has signed a deal to take over Santelisa Vale, one of Brazil's largest sugar and ethanol groups.

Local unit Louis Dreyfus Commodities Bioenergia (LDC) expects to incorporate Santelisa within two months as long as the Brazilian company restructures its debt of 2.8 billion reais ($1.3 billion), said chief executive Kenneth Geld.

Geld did not disclose the value of the deal but said that, in order to make it viable, LDC Bioenergia had to raise 409 million reais in February.

Santelisa Vale has five mills in Sao Paulo state, with an annual cane crushing capacity of around 20 million tonnes. This is roughly the same capacity as LDC, which has eight ethanol and sugar plants in Brazil.

Other shareholders in Santelisa include U.S. securities firm Goldman Sachs (GS.N: Quote, Profile, Research) and the investment arm of Brazil's state development bank BNDES.

The Biagi family, which is currently Santelisa's largest shareholder, will likely keep a minority share in the company.

The deal was signed by the French group and the Biagi and Junqueira families earlier in April.

LDC has resumed plans to sell shares on the Sao Paulo Stock Exchange after canceling them last year, citing "unfavorable" market conditions.