Latest news with #SaoPaulo
Reuters
2 hours 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.
Reuters
2 hours ago
- Business
- Reuters
Lula says he won't take orders from foreigner Trump, calls tariffs blackmail
SAO PAULO, July 17 (Reuters) - Brazilian President Luiz Inacio Lula da Silva on Thursday said he would not take orders over tariffs from a foreigner, referring to U.S. President Donald Trump, and later called the United States' threatened duty "unacceptable blackmail." The comments, made during two separate events, mark a continuation of a spat between the two leaders that escalated when the U.S. announced a 50% tariff on Brazil last week. Trump attributed the tariff, set to start in August, to Brazil's treatment of former President Jair Bolsonaro and to trade practices against U.S. companies that he said are unfair. The tariff announcement came days after Lula called Trump an "emperor" the world does not want. Lula and members of his cabinet have rejected the reasoning behind the tariffs and insisted on Brazil's sovereignty, while calling for trade negotiations with the United States. "No foreigner is going to give orders to this president," Lula said in a speech, using the slang word 'gringo', which in Brazil is a common term for foreigners without the pejorative sense it carries in other parts of Latin America. He added that Brazil would go ahead with regulation and taxation of U.S. tech firms, telling a gathering of leftist student activists in the state of Goias that tech firms are conduits of violence and fake news disguised as freedom of expression. Later on Thursday, during an evening TV and radio address to the nation, Lula said the defense of Brazil's sovereignty extends to protecting itself against the actions of foreign digital platforms. During the near five-minute address, Lula said Brazil has been negotiating with the U.S. over tariffs, and repeated that the Latin America country had sent a proposal in May. "We expected a response, and what we received was unacceptable blackmail, in the form of threats to Brazilian institutions and false information about trade between Brazil and the United States," Lula said. Brasilia has been holding discussions with industry groups and companies that will be affected by the U.S. tariff, while also readying potential retaliatory measures if talks fall through. Foreign Minister Mauro Vieira told CNN Brasil separately on Thursday that Lula was open to talks with Trump, who had not yet met each other. "If the circumstances are given, they will speak," he added. Lula, who is in his third non-consecutive term as president of Latin America's largest economy, saw his approval ratings start to rebound after the trade spat with Trump last week.
Yahoo
3 hours ago
- Sport
- Yahoo
MMA legends to collide in 'real' boxing match
This September, boxing fans around the world will get to see two mixed martial arts legends exchange gloves when Vitor Belfort battles Wanderlei Silva. Set for Spaten Fight Night on September 27 from Sao Paulo, Brazil, the two will meet in the main event. According to MMA Fighting, the rules have been set. MORE: UFC 318 ticket prices for Holloway vs. Poirier 3 They include both fighters wearing 12 ounce gloves with eight rounds scheduled. The rounds will be two minutes each and the fight will be held at 20 5pounds. "The Vitor Belfort and Wanderlei Silva rivalry is one of the biggest in the martial arts world," Spaten marketing director Cinthia Klumpp said. "A rematch that has never happened, so we decided to make it real in the second edition of Spaten Fight Night." Spaten Fight Night hosted Anderson Silva vs. Chael Sonnen in the headline bout of the first event. That exhibition ended with no winner being declared. The first Belfort vs. Silva match took place all the way back in 1998 at UFC Brazil when Belfort scored a 44-second finish. The two have been scheduled several times to meet again, but the fight has never happened. MORE COMBAT SPORTS NEWS: PFL Hollywood to host pair of tournament finales Special guest to walk Dustin Poirier to UFC 318 Octagon UFC heavyweight scores convincing win, puts on a show PFL Charlotte to feature three title fights
Yahoo
5 hours 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 hours 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.
