BP to Acquire Full Control of Biofuels Joint Venture for $1.4B

BP plc (BP) has announced its agreement to acquire Bunge's 50% stake in their joint venture, BP Bunge Bioenergia S.A., solidifying BP's control over one of Brazil's top biofuel-producing companies. This strategic acquisition, valued at approximately $1.4 billion, marks a pivotal step in BP's efforts to expand and optimize its bioenergy portfolio. Once the transaction is completed, BP will have the capacity to produce around 50,000 barrels of ethanol equivalent per day from sugarcane, utilizing BP Bunge Bioe ...