Analysts Like CNAA, but Question Pricing

Analysts Like CNAA, but Question Pricing

Brazil M&A

Analysts like the acquisition of Brazil’s Companhia Nacional de Acucar e Alcool (CNAA) by BP, although some expressed concerns over the price of the acquisition. BP says it will pay $680m for an 83% stake in CNAA including the assumption of the company’s long term debt. CNAA produces ethanol from two mills in the states of Goias and Minas Gerais. A third mill is under development. BP does not disclose how much debt CNAA has, although local press reported that as of end-of-year 2009 it carried BR

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial