BP May Buy Shell’s Brazilian Plane Fuel Unit, O Estado Reports

BP Plc may buy a Brazilian airplane fuel production unit half-owned by Royal Dutch Shell Plc for as much as 200 million reais ($109 million), O Estado de Sao Paulo reported, without saying how it obtained the information.

BP has signed a binding offer with Raizen, a venture half- owned by Shell, to acquire the assets, the Sao Paulo-based newspaper said. The letter has been delivered to the Brazilian competition regulator, known as Cade, which had ordered Raizen to sell the assets, the newspaper said.

Shell acquired the fuel production assets in 2009 from Cosan SA Industria & Comercio, before the two companies formed Raizen, Estado said.

To contact the reporter on this story: Rodrigo Orihuela in Rio de Janeiro at rorihuela@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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