BP has acquired 83% of the shares of CNAA in April this year.
Following the previous acquisition and subsequent conversion of CNAA’s long-term debt to equity, the company will own 99.97% of the shares of the company.
The remaining shares are owned by minority private shareholders, and the acquisition is subject to agreed closing conditions.
BP Biofuels CEO Mario Lindenhayn said the company has been operating the mills since April and the teams are working hard to integrate systems and processes to become part of the company.
Since April 2011, BP has been the operator of the CNAA mills in Itumbiara, Goias and Ituiutaba, Minas Gerais., and the mills will be able to deliver both Brazilian and international markets with ethanol.
