BP offers $466M for Brazilian ethanol group

In Brazil, O Estado de Sao Paulo is reporting that BP has offered $466 million for a 50 percent stake in the Cerradinho sugar and ethanol operations. The deal is expected to be announced imminently, or Cerradinho will resume negotiations with Bunge, Teros, Cosan, Louis Dreyfus and other firms that have expressed an interest in the group.

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