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Bain Capital acquires biofuel firm stake

Bain Capital Private Equity is to pay $400 million to acquire a stake in renewable fuel producer EcoCeres Inc, as part of its programme to increase the firm’s sustainable investments, according to a report by Reuters.

Bain Capital Private Equity is to pay $400 million to acquire a stake in renewable fuel producer EcoCeres Inc, as part of its programme to increase the firm’s sustainable investments, according to a report by Reuters.

The report cites a statement by Boston-based Bain as confirming it has agreed to acquire a “significant stake” in the company, in what is one of its largest ESG transactions in Asia.

According to a filing regarding the transaction published on the website of China’s State Administration for Market Regulation, following completion of the deal, EcoCeres will be jointly controlled by Bain Capital and Hong Kong & China Gas (HKCG).

EcoCeres produces a type of biodiesel made from waste greases such as palm oil mill wastewater and used cooking oil. The new funding is set be used to construct new facilities in Malaysia to boost total output capacity.

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