Petrobras sells Guarani stake to Tereos for $220 million

December 29, 2016 |

In Brazil, Petrobras sold its 49% stake in Guarani to French sugarbeet cooperative Tereos for $220 million as part of its on-going asset divestment following several years of significant financial losses coupled with a very public corruption scandal. Tereos already owns the remaining 51% of the sugarcane company that owns seven mills producing ethanol and sugar, making it one of the country’s largest. Petrobras is working to completely divest itself of biofuels having produced ethanol via Guarani but also biodiesel.

Category: Fuels

Thank you for visting the Digest.