Bunge sells 50% stake in biofuel joint venture BP Bunge Bioenergia to BP for $1.4B, completing in 2024.

Bunge has announced the sale of its 50% share in BP Bunge Bioenergia, a joint venture with bp, for $1.4 billion. The deal, expected to complete by late 2024, will give BP full control of the joint venture, which includes 11 biofuel plants in Brazil. This acquisition aligns with BP's increased focus on green energy sources and supports Brazil's RenovaBio initiative to boost biofuel use and reduce carbon emissions.

June 20, 2024
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