BP Plc is still looking to close its deal with Bunge Ltd. to merge sugar and ethanol assets in Brazil in 2019, so the companies can go on to plan their operations together for the new cane season that starts in early 2020, reports Reuters.
BP’s chief executive for biofuels, Mario Lindenhayn, told reporters on the sidelines of Datagro’s sugar conference in Sao Paulo the oil major was just waiting for the green light of antitrust bodies in three countries, including China, to close the deal.
BP and Bunge announced in July the deal to merge their Brazilian sugar and ethanol operations.
