ECB Group acquires Petrobras Biocombustível's stake in BSBIOS

The Administrative Council for Economic Defense (CADE) of Brazil has approved the sale of 50% stakes in BSBios to RP Participacoes em Biocombustiveis SA (RPBio). 

Petrobras Biocombustível (PBIO) has announced in December the sale of its 50% equity interest in BSBIOS Indústria e Comércio de Biodiesel Sul Brasil to its partner in the company, RP Biocombustíveis, which owns the other 50 % of BSBIOS and is controlled by the ECB Group. The decision is in line with Petrobras' strategy of repositioning its portfolio. PBIO and RP Biocombustíveis were partners since 2009 in the company, which today is a leader in the production of biofuels in Brazil.

The amount attributed to 100% of BSBIOS was BRL1.235 billion (US$225 million) on the base date of November 30, 2020. With deductions from net debt and other price adjustments, the net amount received by PBio (50% from BSBIOS) was approximately BRL322 million (US$59 million). 

BSBios owns two biodiesel plants: the Passo Fundo biodiesel plant, located in the state of Rio Grande do Sul, with a production capacity of 414 thousand m³/year, a crushing capacity of 1,152 thousand tons/year, and a storage capacity of 120 thousand tons of grains, 60 thousand tons of bran and 7.5 thousand m³ of biodiesel; and Marialva biodiesel plant, located in the state of Paraná, with a production capacity of 414 thousand m³/year and a storage capacity of 3 thousand m³ of vegetable oil, 1.5 thousand m³ of animal fat, and 4.5 thousand m³ of biodiesel.