Sugar and Ethanol Businesses Placed Up For Sale By BP and Bunge.

Report says JPMorgan was hired to advise BP Bunge on the deal.

[{"selector":"#anim-40f582e4-40d2-4461-bb33-1a26ae732778","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] White Lightning White Lightning

The assets of the company were estimated to be worth 1.96B to R$10B.

[{"selector":"#anim-d0815706-21db-404e-a1ab-aea0fbc4902d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] White Lightning White Lightning

At first, Bunge was interested in selling its 50% ownership of the company.

[{"selector":"#anim-2fdda1e6-71e0-4725-bf1e-cca8378debeb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] White Lightning White Lightning

BP has also expressed interest in undoing its share over the past two months.

[{"selector":"#anim-97604f1b-7ec5-480a-b283-7148f82b6cd8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] White Lightning White Lightning

In 2019 BP and Bunge agreed to create the joint venture to manages 11 mills, with a total crushing capacity of 32.4M tonnes of sugarcane per year.

[{"selector":"#anim-51454705-ee48-4624-b5c7-5f9e66ac3341","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] White Lightning White Lightning

The business generated R$7.2B in net operating revenue and R$1.7B in net profitability during the 2021–22 season.

[{"selector":"#anim-fdbb8bdd-c25a-4971-b08f-bb255a259af5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] White Lightning White Lightning

White Lightning White Lightning Learn more