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News Update: Cosan and Royal Dutch Shell Create Biofuel Joint Venture (NYSE: CZZ,RDS.A,BP)

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Uploaded by on Feb 1, 2010

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.

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