Bunge and BP may team up in mega sugar/ethanol JV to rival Raizen

July 10, 2019 |

In Brazil, Bloomberg reports that BP is looking to team up with Bunge on a joint venture that would link up sugar and ethanol assets that would create a similar giant to Shell’s JV with Cosan, Raizen. Bunge has been looking to offload its sugar assets in Brazil for a number of years with no luck. Currently the two companies are valuing their assets to figure out the structure of the JV, with Bunge advised by Itau Unibanco.

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