BP Bunge Bioenergia – Brazilian Sugar and Ethanol Joint Venture Valued Between R$ 9 Billion and R$ 10 Billion – Is Up For Sale. Raízen Is One of the Interested Parties In The Deal

Written by Roberta Souza

Published on 10/08/2022 at 20:59

Foto: reprodução bpbunge.com.br

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J. P. Morgan Will Assist BP Bunge In The Transaction. Companies Like Mubadala And Raízen Are Among Those Interested In The Purchase Of The Sugar And Ethanol Joint Venture

The newspaper Valor Econômico reported on Tuesday (the 9th) that the British oil company BP and the American commodities trader Bunge have decided to sell their Brazilian sugar and ethanol joint venture, BP Bunge Bioenergia.

According to the report, the Mubadala fund from Abu Dhabi and the Brazilian energy company Raízen are among those interested in acquiring BP Bunge. Raízen had even assessed Bunge’s assets previously, but the negotiations did not pick up.

Sources consulted by Valor Econômico also highlighted that BP Bunge’s shareholders are considering selling the assets separately.

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BP and Raízen Refused To Comment On The Status Of The Ongoing Business. The Sale Of BP Bunge Is Still In The Non-Binding Proposal Phase

BP and Raízen declined to comment on the matter when contacted by Reuters. Bunge, Mubadala, and J. P. Morgan, for their part, did not provide an immediate response to the email requests for comment.

The sources consulted by Valor also clarified that the sale process of BP Bunge is still in the non-binding proposal phase, meaning that the companies are receiving offers, such as from Raízen or Mubadala, but there is no exclusivity contract between the parties. Furthermore, the report also mentions that the deal is not expected to be finalized before the elections, which will take place in October this year.

Finally, the individuals consulted stated that initially only the Bunge intended to sell its 50% stake in the joint venture. However, in the last two months, BP has shown interest in also exiting the partnership.

BP and Bunge announced their agreement to create the sugar and ethanol joint venture about three years ago, in 2019. The partnership manages 11 mills, with a total crushing capacity of 32.4 million tons of sugarcane per year. In the 2021/2022 season, the company’s net revenue was R$ 7.2 billion, while the net profit was approximately R$ 1.7 billion.

About BP Bunge Bioenergia

BP Bunge Bioenergia is a young company, established in December 2019, through the merger of the sugar and ethanol businesses of the BP and Bunge groups in Brazil. The company operates throughout the production process and also sells bioenergy and sugar derived from sugarcane. It also stands out for contributing to the energy transition in the country.

BP Bunge Bioenergia – Brazilian Sugar and Ethanol Joint Venture Valued Between R$ 9 Billion and R$ 10 Billion – Is Up For Sale. Raízen Is One of the Interested Parties In The Deal

J. P. Morgan Will Assist BP Bunge In The Transaction. Companies Like Mubadala And Raízen Are Among Those Interested In The Purchase Of The Sugar And Ethanol Joint Venture

BP and Raízen Refused To Comment On The Status Of The Ongoing Business. The Sale Of BP Bunge Is Still In The Non-Binding Proposal Phase

About BP Bunge Bioenergia

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BP Bunge Bioenergia – Brazilian Sugar and Ethanol Joint Venture Valued Between R$ 9 Billion and R$ 10 Billion – Is Up For Sale. Raízen Is One of the Interested Parties In The Deal

J. P. Morgan Will Assist BP Bunge In The Transaction. Companies Like Mubadala And Raízen Are Among Those Interested In The Purchase Of The Sugar And Ethanol Joint Venture

BP and Raízen Refused To Comment On The Status Of The Ongoing Business. The Sale Of BP Bunge Is Still In The Non-Binding Proposal Phase

About BP Bunge Bioenergia

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Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Four times faster than the Concorde, capable of taking passengers from New York to London in less than an hour at Mach 5.5, and with an engine that switches from turbojet to ramjet mid-flight at Mach 3.5, the Hermeus Quarterhorse went from paper to its first flight in just 19 months.

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She started by collecting oyster shells from restaurants and today she has already accumulated more than 10 tons to restore reefs, recover coastal habitats, and demonstrate how a common waste can become a tool for ocean conservation.

SpaceX will dock a $843 million vehicle to the International Space Station to push a nearly 420-ton laboratory against the atmosphere and make the debris fall in a controlled manner into the ocean.

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