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published FEBRUARY 04, 2010

Clifford Chance advises Shell in signing of MOU with Cosan to form joint venture in Brazil

In A Clifford Chance team, led by corporate partner Anthony Oldfield, is advising Shell International Petroleum Company Limited (Shell) in its signed non-binding memorandum of understanding (MoU) with Cosan S.A. (Cosan), which was announced today. The two companies intend to form a circa $12 billion joint venture (JV) in Brazil for the production of ethanol, sugar and power, and the supply, distribution and retail of transportation fuels. The joint venture would enable Shell and Cosan to establish a scalable and profitable position in sustainable biofuels and would create one of the world’s largest ethanol producers. The deal would also enhance both companies’ growth prospects and market position in the retail and commercial fuels businesses in Brazil. The Shell legal team was led by Deborah Langier and the Clifford Chance team assisting Anthony Oldfield were associates Nick Spurrell and Renata Simon.