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Grain trader Bunge to form bioenergy firm with BP

July 22 (Reuters) - U.S. grain trader Bunge Ltd said on Monday it has agreed to form a bioenergy company with oil major BP Plc that will produce ethanol and sugar, and generates renewable electricity.

Bunge said it will receive cash proceeds of $775 million as part of the agreement. (Reporting by Shradha Singh in Bengaluru; Editing by Arun Koyyur)

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