Petrobras calls for bids for biofuels business

Petrobras calls for bids for biofuels business

M&A Equity Economy & Policy Corporate & Sovereign Strategy Energy Gas Brazil

Brazil's state-owned oil company Petrobras said it has asked qualified bidders to submit non-binding offers for the biofuels business BSBios. Petrobras subsidiary Petrobras Biocombustíveis (PBio) will sell its 50% stake in BSBios, while RP Biocombustíveis, part of the local agro-energy company ECB Group, will sell the other half in the same bidding process, the oil company said in a statement. Strategic bidders must have at least BRL400 million ($95.6 million) in shareholders equity, while finan

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