Tereos finalizes purchase of Petrobras’ 45.9% Guarani stake

In Brazil, Tereos made the $202 million cash payment and other conditions set out for the purchase of Petrobras’ 45.9% stake in Guarani, making the French company the 100% sole owner of Guarani’s eight sugar and ethanol assets in Brazil and Mozambique. The deal was agreed in December as Petrobras’ final divestiture from the ethanol industry. The company’s three biodiesel plants are also for sale as well as its two stakes in other biodiesel joint ventures. The company didn’t reach its divestiture goals for 2015-2016 so is boosting their efforts for the next two-year period.