Latest news with #RubensOmetto
Reuters
5 days ago
- Business
- Reuters
Vibra started talks to buy Cosan's lubricants arm, Brazil Journal reports
SAO PAULO, July 17 (Reuters) - Brazilian fuel retailer Vibra ( opens new tab began talks with conglomerate Cosan ( opens new tab to buy Cosan's lubricants arm, Moove, news outlet Brazil Journal reported on Thursday, citing sources familiar with the matter. The talks were sparked by a minority shareholder, European private equity firm CVC Capital Partners ( opens new tab, expressing interest in selling its stake, Brazil Journal said, adding that Vibra has also shown interest in buying 100% of the company. However, talks stalled, it added, saying that according to a source, controlling shareholder and chairman Rubens Ometto has no interest in selling his stake. Last year, Cosan scrapped a planned initial public offering (IPO) for Moove in the United States. In a securities filing, Cosan said there was no agreement, commitment or document signed for a deal, adding that any talks held by the company are non-binding. Cosan also said that it has been approached by various market participants regarding potential alternatives involving its assets. In a separate filing, Vibra said weighing business opportunities is part of its regular activities, while also noting that no agreement, commitment or binding document was signed. Moove declined to comment. CVC did not immediately respond to requests for comment outside normal business hours.
Yahoo
5 days ago
- Business
- Yahoo
Brazil's Vibra started talks to buy Cosan's lubricants arm, media reports
SAO PAULO (Reuters) -Brazilian fuel retailer Vibra began talks with Brazilian conglomerate Cosan to buy Cosan's lubricants arm, Moove, local news outlet Brazil Journal reported on Thursday, citing sources familiar with the matter. The talks were sparked as a minority shareholder, European private equity firm CVC Capital Partners, expressed interest in selling its stake, Brazil Journal said, adding that Vibra has also shown interest in buying 100% of the company. However talks stalled, it added, saying that according to a source, controlling shareholder and chairman Rubens Ometto has no interest in selling his stake. Last year, Cosan scrapped a planned initial public offering (IPO) for Moove in the United States. Cosan, Vibra, CVC and Moove did not immediately respond to requests for comment outside normal business hours. Sign in to access your portfolio
Reuters
5 days ago
- Business
- Reuters
Brazil's Vibra started talks to buy Cosan's lubricants arm, media reports
SAO PAULO, July 17 (Reuters) - Brazilian fuel retailer Vibra ( opens new tab began talks with Brazilian conglomerate Cosan ( opens new tab to buy Cosan's lubricants arm, Moove, local news outlet Brazil Journal reported on Thursday, citing sources familiar with the matter. The talks were sparked as a minority shareholder, European private equity firm CVC Capital Partners ( opens new tab, expressed interest in selling its stake, Brazil Journal said, adding that Vibra has also shown interest in buying 100% of the company. However talks stalled, it added, saying that according to a source, controlling shareholder and chairman Rubens Ometto has no interest in selling his stake. Last year, Cosan scrapped a planned initial public offering (IPO) for Moove in the United States. Cosan, Vibra, CVC and Moove did not immediately respond to requests for comment outside normal business hours.
