Petrobras (PBR) offered around 3B reais ($1.8B) to buy 40% of ethanol producer ETH, reported the...

|About: Petrobras - Petroleo Bra... (PBR)|By:, SA News Editor

Petrobras (PBR) offered around 3B reais ($1.8B) to buy 40% of ethanol producer ETH, reported the Folha de Sao Paulo newspaper. Petrobras' biofuels unit denied the report, which also said that Petrobras aims to overtake Brazil's Cosan (CZZ) as the world's largest ethanol producer in coming years.