Tereos wants to buy back Petrobras stake in Brazilian mills

French sugar group Tereos is interested in buying back a 45 percent minority stake in seven of its Brazilian-based sugar and ethanol plants from the state-run Petrobras, Jacyr Costa Filho, head of Tereos’ local operations, said on Monday.

“We know these assets well, we understand their potential, so if they indeed decide to leave the business we are interested,” said Costa on the sidelines of Datagro’s sugar and ethanol conference in Sao Paulo.

The official said Petroleo Brasileiro SA has not officially informed Tereos about its willingness to end the partnership, despite having heard the news last month regarding the oil company’s new strategy that includes exiting biofuels production.

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