BP Buys Aviation Fuel Assets from Shell, Cosan

Air BP, a unit of the British oil company, has purchased aviation fuel facilities in 7 Brazilian airports from Shell and Cosan Industria e Comercio in a deal valued at BRL185m ($99.9m). The asset acquisition will help BP up its presence to 18 airports in Brazil and allows it to service roughly 66% of aviation fuel demand in the country, BP says. Officials at BP could not immediately discuss valuation metrics or reveal if any details on advisors. The oil major has lately expanded its presence in the country through several acquisitions. Earlier this year BP spent a combined $96m in transactions in an effort to increase its stake in Brazilian biofuel producers Companhia Nacional de Acucar e Alcool (CNAA) and Tropical BioEnergia.