Petrobras to Buy Full Stake in Logum Logistica for $110 Million
By Katherine Hamilton
Petrobras agreed to acquire the remaining 70% of Logum Logistica, making it the sole owner of the Brazilian logistics and infrastructure company.
The stake is being sold by Raizen Energia and Copersucar, which each owned 30%, as well as Uniduto Logistica, which owned 10%.
Petrobras plans to pay 620 million reais, or about $109.8 million. The deal is payable in three installments: 300 million reais at closing, 160 million reais after 12 months and 160 million after 24 months.
Logum is private and headquartered in Rio de Janeiro. It operates a pipeline of more than 1,000 kilometers, with terminals that receive ethanol from production facilities across the country.
Petrobras said the deal would help it take advantage of the growing ethanol market, particularly the expansion of corn ethanol production in Brazil's Center-West region.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
November 12, 2026 13:55 ET (18:55 GMT)
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