Bunge To Sell 50% Stake In BP Bunge Bioenergia JV In Brazil To BP
(RTTNews) - Bunge Global SA (BG) on Thursday entered into definitive agreements to sell its 50% share in BP Bunge Bioenergia to British energy major BP plc (BP.L, BP_UN.TO, BP), its joint venture partner.
BP Bunge Bioenergia, a joint venture formed in 2019, combined both companies' Brazilian bioenergy and sugarcane ethanol businesses with a total of 11 mills located across the Southeast, North and Midwest regions of Brazil.
This second and final monetization event of Bunge's ownership in the business is expected to yield net proceeds close to $800 million, depending on timing of closing and customary closing adjustments.
The closing of the transaction is subject to customary conditions, including receipt of required regulatory approvals. At closing, which is expected to happen in the fourth quarter of 2024, BP will own 100% of the business.
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BP Posts RC Loss In Q2, Underlying RC Profit Beats View
British energy major BP Plc reported Tuesday a replacement cost or RC loss in its second quarter, compared to prior year's profit, hit by hefty charges and weak revenues. Underlying RC profit, however, beat market estimates, while revenues missed view. Further, bp said it intends to execute a $1.75 billion share buyback prior to reporting the third quarter results, and also announced $3.5 billion
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Bunge Q4 Adj. EPS Tops Estimates; Guides FY24 Below Estimates
Bunge Ltd. (BG) reported Wednesday that net income attributable to the company for the fourth quarter surged to $616 million or $4.18 per share from $336 million or $2.21per share in the prior-year quarter.
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BP Q4 Underlying RC Profit Tops Market, Plans Share Buybacks; Stock Up
Shares of BP Plc were gaining around 6 percent in the morning trading on the London Stock Exchange as well as in pre-market activity on the NYSE after the British energy major reported Tuesday fourth-quarter underlying replacement cost or RC profit above market estimates. On a reported basis, RC profit and net profit were sharply lower than last year as revenues were hit mainly by lower production
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BP Claws Back $40 Mln In Pay From Former CEO Citing Serious Misconduct
BP Plc said it has forfeited a maximum of 32.43 million pounds or $40.59 million in potential remuneration from former CEO Bernard Looney after the British energy major determined that he knowingly misled the board regarding his personal relationships with colleagues. In a statement, BP said that Looney has been dismissed without notice effective on December 13.
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BP To Acquire Remaining 50.03% Interest In Lightsource Bp
BP plc (BP, BP.L) on Thursday agreed to acquire the remaining 50.03% interest it does not already own in Lightsource bp, one of the world's leading developers and operator of utility-scale solar and battery storage assets.
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BP Stock Dips As Q3 Profit Misses View; Plans Addl. $1.5 Bln Buyback
Shares of BP Plc were losing around 4 percent in the morning trading in London as well as in pre-market activity on the NYSE after the British energy major reported Tuesday weak underlying replacement cost profit in its third quarter, below market estimates, as revenues were hit by lower gas prices. On a reported basis, replacement cost profit was significantly higher.
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BP Posts RC Profit In Q1, Underlying RC Profit Down; Stock Dips
British energy major BP Plc reported Tuesday a replacement cost profit in its first quarter, compared to last year's hefty loss, while underlying replacement cost profit was lower as last year was benefited by surge in fuel prices following Russia's invasion of Ukraine. The company also announced a further $17.5 billion share buyback. BP shares were losing around 5 percent in the morning trading
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TravelCenters Of America To Be Acquired By BP In About $1.3 Bln Deal
TravelCenters of America Inc. (TA), the operator and franchisor of the TA, Petro Stopping Centers and TA Express travel center brands, announced Thursday that it has entered into a merger agreement with BP plc (BP), pursuant to which BP will acquire all of the outstanding shares of TA common stock for $86.00 per share in cash.
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