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.
Sector: Petroleum/Natural Gas/Coal
Target: Pure Biofuels del Peru SAC
Buyer: BP Group
Vendor: Pegasus Capital Advisors LP