Petrobras has signed an agreement to acquire the remaining 70% of Logum Logística S.A. (Logum). The shares are currently held by Raízen Energia S.A. (30%), Copersucar S.A. (30%) and Uniduto Logística S.A. (10%). Petrobras already owns the other 30%.
The acquisition is valued at 620 million Brazilian reais, payable in three installments: 300 million reais at closing, 160 million after 12 months and 160 million after 24 months. The amounts are subject to price adjustments set out in the contract.
Petrobras said the deal offers attractive financial conditions in view of the growing ethanol market, particularly the expansion of corn ethanol production in Brazil’s Center-West region. Integrating Logum’s pipeline network with the Petrobras System is also expected to create operational synergies and add value to the company’s logistics assets.
