Paul Senior must be salivating!!Shell, Cosan Sign $12B Brazilian JV Pact. Gains access to Cosan's sugarcane-crushing and ethanol production, which pumps out about 2 billion liters
Paul Senior must be salivating!!
Brazilian stocks gain as Cosan surges on ethanol deal
Cosan's /quotes/comstock/13*!czz/quotes/nls/czz (CZZ 8.60, +0.80, +10.26%) /quotes/comstock/30u!e:csan3 (BR:COSAN 23.45, +2.15, +10.09%) local shares jumped 12%, leading advancers, after a unit of Royal Dutch Shell /quotes/comstock/13*!rds.a/quotes/nls/rds.a (RDS.A 56.48, +1.09, +1.97%) said it had signed a nonbinding memorandum of understanding to form a joint venture in Brazil to produce and distribute ethanol.
Shell will contribute $1.625 billion in cash plus a plan for distributing the gasoline alternative over its network of 2,740 retail sites. In return, Shell is gaining access to Cosan's sugarcane-crushing and ethanol production, which pumps out about 2 billion liters of ethanol a year. See more on Cosan-Shell deal |
