Please use symbol entry at top right of page to search

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

SAO PAULO, Aug 9 (Reuters) - British oil major BP and U.S. commodities trader Bunge Ltd (BG) 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 (CSAN) - 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 (BG), Mubadala and JPMorgan did not immediately respond to Reuters emailed requests for comment.

BP and Bunge's (BG) 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)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.