BP In Talks To Buy Jet Fuel Assets From Brazil Raizen - Report

Date : 12/13/2011 @ 7:05AM
Source : Dow Jones News
Stock : Cosan Limited Class A (CZZ)
Quote : 7.69  0.15 (1.99%) @ 4:01PM

BP In Talks To Buy Jet Fuel Assets From Brazil Raizen - Report

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BP PLC (BP) is in talks to acquire some jet fuel assets from Brazilian fuels company Raizen, reported O Estado de S. Paulo in its Tuesday edition.

BP will buy a subsidiary of Raizen called Jacta Participacoes for up to 200 million Brazilian reais ($108 million), the newspaper said, without citing where it got the information.

Raizen and BP officials weren't immediately available for comment when contacted by Dow Jones Newswires.

If completed, BP will hold a market share of 15% of the local jet fuel industry, the report said. It didn't unveil the current market share of BP.

Earlier this year, when Raizen joint venture was created, the government antitrust body ruled for the sale of some assets of Cosan and Shell, including a portion of its jet fuel assets, said the report.

--By Rogerio Jelmayer, Dow Jones Newswires; 55-11-3544-7071; rogerio.jelmayer@dowjones.com




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