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The Transaction Refers to Part of Odebrecht Transporte and Camargo Correa Construções in Logum Logística, Petrobras, Raízen and Copersucar Will Each Hold 30%
With unrestricted approvals from the Administrative Council for Economic Defense (CADE), Odebrecht Transporte and Camargo Correa Construções can sell their stakes in Logum Logística, which is a company responsible for an ethanol transport system, according to the antitrust agency’s dispatch in the Official Gazette.
According to the deal, the current associates of Logum, the companies Raízen, Copersucar, and the state-owned Petrobras will fully acquire Odebrecht Transport and Camargo Corrêa’s stake in the company, which are 20.77% and 10% respectively, as reported by Cade.
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With these transactions, the aforementioned associated companies will each hold 30% of Logum, which still has Uniduto Logística as a partner that holds the remaining 10%.
Founded in 2011, Logum developed a logistics system for ethanol involving pipelines. This operation is of great relevance and interest; given the current corporate structure, it does not expect to obtain long-term financing to implement its expansion project.
In response, the competition defense agency stated in an opinion that Logum’s activities are under the regulation of the ANP (National Agency of Petroleum, Natural Gas and Biofuels), and this deal with the associates does not raise concerns.
The applicants’ market share is below the minimum necessary to imagine a possibility of market closure, both in terms of ethanol production volume and in the multi-modal logistics flow of ethanol transportation.
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