BP Plc, the U.K.’s biggest oil company, bought aviation-fuel assets in Brazil from Royal Dutch Shell Plc and Cosan SA Industria & Comercio for $100 million.
The deal includes storage tanks, vehicles and pipelines for plane refueling at seven airports in the South American country, BP said today in a statement. Upon completion, expected in the first quarter, Air BP will be present at 18 Brazilian airports and account for about 66 percent of aviation-fuel demand there.
“Demand growth for aviation fuel in Brazil is well above the average global rates at around 16 percent,” Ricardo Paganini, Air BP’s manager for Brazil, said in the statement. “The purchase of these new assets will allow Air BP to accelerate its ambitious plans to grow its share of supply.”
Brazil’s antitrust regulator ordered the sale after Shell and Cosan combined some assets in the country.