2011-05-10
BP is to acquire majority of CNAA
BP is to acquire majority (83%) control of the Brazilian ethanol and sugar producer Companhia Nacional de Açúcar e Álcool (CNAA). The $680m deal will increase BP’s overall Brazilian production capacity to around 1.4bn litres of ethanol equivalent per year (9m barrels). BP will operate two ethanol mills, in Goiás and Minas Gerais states. A third CNAA mill is currently under development in Minas Gerais state.
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