Printer Friendly

BP closes investment in Pure Biofuels del Peru.


9 September 2014 - UK oil and gas giant BP Group has made an equity investment in Pure Biofuels del Peru SAC, the South American company announced in a statement, without revealing details on the transaction.

Pure Biofuels is based in Lima, Peru, and specialises in refining, marketing and distribution of biofuels. In 2012, it was purchased by US private equity firm Pegasus Capital Advisors LP and the company's management, providing necessary capital for the growth of Pure Biofuels.

Investing in the biofuel manufacturer will allow BP Group, which operates through oil and gas major BP Plc (LON:BP), to establish a strong presence on the Latin American oil and gas market.

Russell Simon, managing director of BP Latin America's integrated supply and trading unit, commented that the investment was in line with BP's strategy to support a fast-growing key market. Pure Biofuels' terminal and infrastructure network would position BP well on the Latin American oil and gas supply market, he said.

Country: Peru

Sector: Petroleum/Natural Gas/Coal

Target: Pure Biofuels del Peru SAC

Buyer: BP Group

Vendor: Pegasus Capital Advisors LP

Type: Stakebuilding

Status: Closed

COPYRIGHT 2014 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Date:Sep 9, 2014
Previous Article:Extreme Plastics Plus acquires AWS.
Next Article:KCG to sell Futures unit to Wedbush Securities.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters