BP’s 50:50 Joint venture with Bunge


Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga and Lefosse advised on the deal

BP has agreed to form a 50:50 joint venture with Bunge – a leader in agriculture, food and ingredients – that will create a leading bioenergy company in one of the world’s largest fastgrowing markets for biofuels.


BP will combine its Brazilian biofuels and biopower businesses with that of Bunge to create a world-scale, highly-efficient producer of sugarcane ethanol in Brazil, BP Bunge Bioenergia. BP’s interest in the new venture will grow its existing biofuels business by more than 50%.


Ethanol produced from sugarcane is one of the most carbon-efficient biofuels available globally, with lifecycle greenhouse gas emissions around 70% lower than conventional hydrocarbon transport fuels. Brazil is the world’s second largest and most integrated market for ethanol as a transportation fuel with demand forecast to grow rapidly. The majority of vehicles in the country – around 70% – are already able to run on ethanol and the country’s demand for ethanol is estimated to increase by around 70% by 2030.

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga advised BP Biocombustíveis S.A. and BP Alternative Energy Investments Limited with Giovani Loss (Picture), Pedro Whitaker de Souza Dias, Eduardo Marques Souza, Victor Gelli Cavalcanti, Andrea Bazzo Lauletta, Rossana Fernandes Duarte, Rodrigo Pará, Renato Villaca Di Dio, Maria Clara Vargas, Mariana Ismael Queiroga Fleichman and José Francisco Rodrigues Gontijo.

Lefosse advised Bunge Brasil Holdings BV and Bunge Cooperatief UA with Christian Roschmann, José Carlos Berardo, Renata Cardoso, Andréa Caliento, Bruno Carramaschi, Lilian Toscani, Fabiane Ortiz, Jana Araújo, Alícia Alves, Matheus Maiotto, Carla Rossi, João Castro and Emmanuel Abrantes.

Involved fees earner: Emmanuel Abrantes – Lefosse; Alicia Alves – Lefosse; Jana Araujo – Lefosse; Andréa Caliento – Lefosse; Renata Cardoso – Lefosse; Bruno Carramaschi – Lefosse; João Henrique Castro – Lefosse; Jose Carlos Berardo – Lefosse; Matheus Maiotto – Lefosse; Fabiane Pereira Ortiz – Lefosse; Christian Roschmann – Lefosse; Carla Rossi – Lefosse; Lilian Toscani – Lefosse; Andréa Bazzo Lauletta – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Rodrigo de Madureira Pará Diniz – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Rossana Fernandes Duarte – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Victor Gelli Cavalcanti – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Giovani Loss – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Eduardo Marques Souza – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Mariana Ismael Queiroga de Albuquerque – Mattos Filho Veiga Filho Marrey Jr & Quiroga; José Francisco Rodrigues Gontijo – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Maria Clara Vargas Vieira – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Renato Villaça Di Dio – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Pedro Whitaker de Souza Dias – Mattos Filho Veiga Filho Marrey Jr & Quiroga;

Law Firms: Lefosse; Mattos Filho Veiga Filho Marrey Jr & Quiroga;

Clients: BP Alternative Energy Investments Limited; BP Biocombustiveis SA; Bunge SA;

Author: Ambrogio Visconti.