Shell & Cosan JV Highlights Ethanol (RDS-A, CZZ, CDXS, ADM, VLO, PEIX)

Last February, Royal Dutch Shell plc RDS and Brazil’s Cosan Ltd. CZZ signed an agreement to create a joint venture to distribute and sell cane ethanol in Brazil. The two companies have now ironed out the details and have announced a binding agreement for the $12 billion venture. The deal still requires regulatory approval. Under the terms disclosed today, Shell will contribute about $1.6 billion in cash, about 2,740 retail outlets and other downstream assets, its 14.7% interest in US biocatalyst firm Codexis, Inc. CDXS, and its 50% share interest in Canadian biofuel maker Iogen Energy. To read the rest, head over to 247WallSt.com