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)