29 December 2009 18:28 [Source: ICIS news]
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 ?xml:namespace>
The company is also building a new plant in
Earlier this year, French commodities trading firm Louis Dreyfus bought a 200,000 tonne/year plant for biodiesel and pharma glycerine in
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections