SAOPAULO – British oil main BP and U.S. commodities dealer Bunge Ltd have put their Brazilian sugar and ethanol three way partnership BP Bunge Bioenergia up on the market, newspaper Valor Economico reported on Tuesday.
The report, citing sources conversant in the matter, stated Abu Dhabi’s Mubadala and Brazilian vitality firm Raizen SA – a three way partnership between Shell and Cosan SA – had been amongst these keen on shopping for the enterprise.
JPMorgan has been employed to advise BP Bunge on the deal, Valor stated, including that the corporate’s belongings had been valued at between 9 billion and 10 billion reais ($1.96 billion).
BP and Raizen declined to remark, whereas Bunge, Mubadala and JPMorgan didn't instantly reply to Reuters emailed requests for remark.
BP and Bunge’s deal to create the 50-50 three way partnership, managing 11 vegetation with a complete capability to crush 32 million tonnes of sugarcane per yr, was first introduced in 2019.
($1 = 5.1110 reais)
Post a Comment