An informed source said that Mubadala Investment Company and Ryzen Energy are in the final stage of acquiring the BP Bangui ethanol joint venture, the third largest sugarcane plant in the world.
The source, who requested anonymity, said that there are no other bids in the second round and that previous offers from other companies are not eligible.
Shareholders BP and Bangui decided to negotiate with the two bidders for a second stage because the difference between their bids was very small. The two companies are in negotiations with them in parallel.
Ryzen is a joint venture between Royal Dutch Shell and Kosan SA.
Bangui said it continues to evaluate options for exiting our participation in the Sugar and Bioenergy Joint Venture.
The company has been trying to get out of its ethanol plants in Brazil for some time. In 2018, it considered an initial public offering before entering into a joint venture with BP. (Archyde.com)