Glencore acquires majority in Switzerland's Biopetrol Industries

29 December 2009 18:28  [Source: ICIS news]

TORONTO (ICIS news)--International commodities trader Glencore has acquired a majority in Switzerland-based biodiesel producer Biopetrol Industries, Biopetrol said on Tuesday in a regulatory filing.

Glencore acquired 50% plus one share in Biopetrol and holds options to buy further shares, Biopetrol said.

The transaction was subject to regulatory approval, it said without disclosing how much Glencore paid for the stake.

Glencore, with its international commodities business and financial strength, was an ideal partner to support Biopetrol’s expansion amid changing market conditions, it said.

According to the filing, Biopetrol has capacities of about 350,000 tonnes/year of biodiesel and 30,000 tonnes/year of pharmaceutical glycerine from plants in Schwarzheide and Rostock, Germany.

The company is also building a new plant in Rotterdam with capacities of 400,000 tonnes/year of biodiesel and 60,000 tonnes/year of glycerine, it said.

Earlier this year, French commodities trading firm Louis Dreyfus bought a 200,000 tonne/year plant for biodiesel and pharma glycerine in Wittenberg, Germany, and it also acquired a big sugarcane group in Brazil in an effort to become a large ethanol producer.

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By: Stefan Baumgarten
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