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Issue 15, 2019 - BP and Bunge establish a joint venture bioenergy company

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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BP and Bunge Joint Venture Bioenergy Company
July 22 BP said it will build a bioenergy company with Bunge Limited in Brazil, increasing BP's biofuels business by more than
50 percent.

BP said it would pay Bunge $75 million to form a new half-owned joint venture called BP Bunge Bioenergy
.
The company will use sugarcane and sugar to produce ethanol and generate electricity
from waste sugarcane biomass.
The transaction is expected to close in the fourth quarter of this year, subject to regulatory approvals
.
The joint venture will assume $700 million worth of non-recourse debt
related to Bunge's assets.

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