Bunge, BP to form bioenergy JV in Brazil

摘要

Bunge (New York, New York), a leading producer of oilseed and grain products, has announced a partnership with BP to form a 50/50 sugarcane ethanol joint venture (JV) in the Northern and Midwest regions of Brazil. Under the terms of the agreement, BP and Bunge will each contribute their existing Brazil-based biofuel, biopower, and sugar businesses into the JV. On completion, BP will pay Bunge $75 million, subject to customary closing adjustments, and the JV will assume $700 million of non-recourse debt associated with Bunge’s assets.