Shell, Cosan receive regulatory approval for $12bn Brazil JV

04 January 2011 15:40  [Source: ICIS news]

HOUSTON (ICIS)--Shell and ethanol group Cosan received unconditional merger clearance from the European Union (EU) for a proposed $12bn (€9bn) joint venture (JV) in Brazil, the companies said on Tuesday.

The joint venture should be launched in the first half of 2011, the companies said. It would produce ethanol, sugar and power, as well as manage the supply, distribution and retail sales of transportation fuels in Brazil.

Shell had said that the joint venture would be one of the world’s largest ethanol producers, with a production capacity of more than 2bn litres/year.

With EU clearance, the companies were turning their focus to detailing integration work, Cosan said.

The companies signed binding agreements for the JV in August 2010.

($1 = €0.75)

For more on Shell visit ICIS company intelligence
For more on ethanol visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect


By: Ben DuBose
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index