BP, Bunge put Brazilian sugar and ethanol business up for sale – report

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The British Petroleum BP logo is seen at a petrol station in Penkow, Poland on June 8, 2022. REUTERS/Kacper Pempel

SAO PAULO, Aug. 9, 2010 (FBC) – British oil major BP ( BPL ) and U.S. commodity trader Bunge Ltd ( BG.N ) have put their Brazilian sugar and ethanol joint venture BP Bunge Bioenergia up for sale, Valor Economico reported. Newspaper reported. Tuesday.

Abu Dhabi’s Mubadala ( MUDEV.UL ) and Brazilian energy company Raizen SA ( RAIZ4.SA ) — a joint venture between Shell ( SHEL.L ) and Cosan SA ( CSAN3.SA ) — are among those interested in buying the business, the report said, citing sources familiar with the matter. They were.

JPMorgan was hired to advise BP Bunge on the deal.

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BP and Raizen declined to comment, while Bunge, Mubadala and JPMorgan did not immediately respond to an emailed request for comment from Reuters.

The agreement was first announced in 2019 to form a 50-50 joint venture between BP and Bunge, operating a total of 11 plants to crush 32 million tonnes of sugarcane per year.

($1 = 5.1110 riels)

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Report by Gabriel Araujo; Edited by Kirsten Donovan

Our standards: The Thomson Reuters Trust Principles.

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