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Grain trader Bunge to form bioenergy firm with BP

Mon, 22nd Jul 2019 11:42

July 22 (Reuters) - U.S. grain trader Bunge Ltd saidon Monday it has agreed to form a bioenergy company with oilmajor BP Plc that will produce ethanol and sugar, andgenerates renewable electricity.

Bunge said it will receive cash proceeds of $775 million aspart of the agreement.(Reporting by Shradha Singh in Bengaluru; Editing by ArunKoyyur)

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