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Bunge, BP to Sell Brazil Ethanol, Sugar Business

Joint venture was originally announced in 2019


According to reports, Bunge and BP have put their Brazilian sugar and ethanol joint venture BP Bunge Bioenergia up for sale.

The company's assets were valued at between 9 billion and 10 billion reais ($1.96 billion).

In a statement sent to Reuters, Bunge reiterated it was assessing options to exit its participation in the sugar and bioenergy joint venture, which was first announced in 2019, but did not provide details on how that could happen.

"While we are pleased with how the business is performing, it is not core to our overall business strategy," Bunge said.

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