D1 Oils reviews strategic options

British biofuels technology company D1 Oils PLC said its board was reviewing strategic options that could include a possible sale or a reverse merger and it may not need new funds until late 2011 under a new business plan. The India-focused company said the plan would materially cut its European overheads. On November 12, D1 said it had received a number of preliminary approaches, which may or may not lead to an offer. D1 said it bought BP PLC’s stake in a jatropha joint venture in July and the restructuring of the business resulted in annualized cost savings of about £4.8 million (US$7.92 million). (November 25, 2009)