Bunge and BP team up in Brazil bioenergy venture, create No. 3 sugarcane processor

U.S. commodities trader Bunge Ltd (BG.N) and British energy company BP Plc (BP.L) said on Monday they will merge their Brazilian sugar and ethanol operations to create the world’s third-largest sugarcane processor.

The joint venture is the largest deal in Brazil’s bioenergy sector since Royal Dutch Shell (RDSa.L) joined forces with Cosan (CSAN3.SA) to form industry leader Raízen in 2011.

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