Bunge completes sale of its equity stake in BP Bunge Bioenergia in Brazil

Bunge Global SA announced today that it has completed the sale of its 50% stake in BP Bunge Bioenergia to BP, which now owns 100% of the business. The sale was previously announced in June of this year, and was reported in Cultivar Magazine. 

From now on, BP is the sole owner of the shares of Bunge Bioenergia, a venture that has united the companies' bioenergy and sugarcane ethanol businesses in Brazil since 2019.

The deal was valued at approximately US$800 million (more than R$4 billion). With the acquisition of BP Bunge Bioenergia shares, BP strengthens its position in the bioenergy sector in Brazil, a strategic market for the production of ethanol from sugarcane.

BP Bunge Bioenergia has 11 operating units located in the Southeast, North and Central-West regions of Brazil. 

BP Bunge Bioenergia was created in December 2019 from the merger of the bioenergy and sugar businesses of the BP and Bunge groups in Brazil. When announcing the creation of the joint venture, Bunge reported that it would receive US$775 million as a result of the deal, consisting of US$700 million related to Bunge's debts assumed by the joint venture and US$75 million paid by BP.