French company demonstrates interest in buying shares of Petrobras plants

The French group Tereos is interested in buying back a piece of about 45% in seven sugar mills and ethanol in Brazil sold to Petrobras PETR4.SA said the Chief Operating Officer of Tereos in Brazil, Jacyr Costa Filho, on Monday.

"We know well these assets, we understand your potential, so if they really decide to leave the business, we are interested," said Costa in the range of international sugar and ethanol Conference of consulting firm Datagro, in São Paulo.

The Tereos representative said the company has not been officially informed by Petrobras about his willingness to leave the sector, despite having heard the news last month that the new oil strategy includes the output of the biofuels segment.

"They have not approached us yet. But they said in the announcement that the idea is to leave the sector in 2017, so it's still early, "he said. Sources told Reuters in the past that Petrobras tried to sell back its stake in the business, but did not accept what the Tereos was willing to pay.

The Tereos never confirmed any negotiations with Petrobras. The Tereos has the right of first refusal on any offer that Petrobras will do eventually.

"If Petrobras will find a buyer, it will have to extend to us the same conditions and we will decide. I believe that we will reach a good agreement, "said Costa.

Petrobras has other assets in biofuels in Brazil, including slices in two other ethanol plants. The company also has facilities of biodiesel.


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