06 July 2011 16:26 [Source: ICIS news]
SAO PAULO (ICIS)--Brazil-based Petrobras has acquired 50% of the capital stock of the biodiesel plant BSBIOS, the company said on Wednesday.
BSBIOS, in the state of Rio Grande do Sul, operates a 160m litres/year biodiesel plant with an integrated vegetable oil extraction unit.
The transaction involved an investment of approximately reais (R) 200m ($127m, €88m), subject to adjustments depending on the outcome of the due diligence process, Petrobras said.
Petrobras and BSBIOS are partners at another biodiesel unit in southern Brazil.
After the deal, both companies will operate an industrial complex with a total production capacity of 300m litres/year of biodiesel, Petrobras said.
Petrobras’s total biodiesel production capacity with the new unit will be 710m litres/year of biodiesel, the company added.
According to Petrobras, the partnership will strengthen investment possibilities in the production of biofuels in the southern region of Brazil.
($1 = R1.57)
($1 = €0.69)
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