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Vibra started talks to buy Cosan's lubricants arm, Brazil Journal reports
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Vibra started talks to buy Cosan's lubricants arm, Brazil Journal reports
Jul 17, 2025 6:46 PM

SAO PAULO, July 17 (Reuters) - Brazilian fuel retailer

Vibra began talks with conglomerate Cosan ( CSAN )

to buy Cosan's ( CSAN ) 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, 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 ( CSAN ) scrapped a planned initial public offering

(IPO) for Moove in the United States.

In a securities filing, Cosan ( CSAN ) said there was no agreement,

commitment or document signed for a deal, adding that any talks

held by the company are non-binding.

Cosan ( CSAN ) 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.

(Reporting by Andre Romani; Editing by Brendan O'Boyle, Sarah

Morland and Muralikumar Anantharaman)

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