Advertisement
Canada markets closed

  • S&P/TSX

    22,779.57
    -35.24 (-0.15%)
     

  • S&P 500

    5,463.54
    +4.44 (+0.08%)
     

  • DOW

    40,539.93
    -49.41 (-0.12%)
     

  • CAD/USD

    0.7215
    -0.0005 (-0.07%)
     

  • CRUDE OIL

    75.48
    -0.33 (-0.44%)
     

  • Bitcoin CAD

    91,992.38
    -3,130.06 (-3.29%)
     

  • CMC Crypto 200

    1,356.01
    -19.70 (-1.43%)
     

  • GOLD FUTURES

    2,376.90
    -0.90 (-0.04%)
     

  • RUSSELL 2000

    2,235.33
    -24.74 (-1.09%)
     

  • 10-Yr Bond

    4.1780
    -0.0220 (-0.52%)
     

  • NASDAQ futures

    19,101.25
    -108.00 (-0.56%)
     

  • VOLATILITY

    16.60
    +0.21 (+1.28%)
     

  • FTSE

    8,292.35
    +6.64 (+0.08%)
     

  • NIKKEI 225

    38,189.17
    -279.46 (-0.73%)
     

  • CAD/EUR

    0.6667
    -0.0001 (-0.01%)
     

BP, Bunge put Brazil sugar and ethanol business up for sale - report

Reuters
·1 min read

SAO PAULO, Aug 9 (Reuters) - British oil major BP and U.S. commodities trader Bunge Ltd have put their Brazilian sugar and ethanol joint venture BP Bunge Bioenergia up for sale, newspaper Valor Economico reported on Tuesday.

The report, citing sources familiar with the matter, said Abu Dhabi's Mubadala and Brazilian energy company Raizen SA - a joint venture between Shell and Cosan SA - were among those interested in buying the business.

JPMorgan has been hired to advise BP Bunge on the deal, Valor said, adding that the company's assets were valued at between 9 billion and 10 billion reais ($1.96 billion).

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

BP and Bunge's deal to create the 50-50 joint venture, managing 11 plants with a total capacity to crush 32 million tonnes of sugarcane per year, was first announced in 2019. ($1 = 5.1110 reais) (Reporting by Gabriel Araujo; Editing by Kirsten Donovan)