Brazil-based sugar and biofuels company Cosan (NYSE:CZZ) announced that it will merge its ethanol and fuel distribution businesses with Royal Dutch Shell (NYSE:RDS.A).
The joint-venture is projected to be valued at approximately $12 billion.
The JV is also expected to further Shell's Brazilian ethanol interests and comes in the wake of rival BP's (NYSE:BP) move to buy a stake in the Brazilian biofuels industry in 2008.
Link to this comment:
All Comments (0)