Sale of Petrobras stake in Brazilian biodiesel producer BSBios complete

Petrobras’ wholly owned subsidiary Petrobras Biocombustível S.A. has completed the sale of its 50 percent stake in BSBios Indústria e Comércio de Biodiesel Sul Brasil S/A to RP Participações em Biocombustíveis S.A.

According to Petrobras, the transaction was finalized with payment of $47 million. In addition, more than $12 million is kept in escrow for the indemnification of eventual contingencies, to be released according to terms set out in the contract. More than $371,000 was received in December in the form of interest on equity.

Brazil-based ECB Group, developer of the large Omega Green renewable diesel complex in Paraguay, controls RP Participações em Biocombustíveis, which now holds 100 percent interest in BSBios after the purchase of Petrobras’ 50 percent stake.

Biobased Diesel Daily first brought news of the terms for the pending sale being settled in December.

BSBios owns two 109 MMgy biodiesel plants in the Brazilian states of Rio Grande do Sul and Paraná.