Home Petrobras and other companies will buy part of Odebrecht and Camargo Corrêa in Logum

Petrobras and other companies will buy part of Odebrecht and Camargo Corrêa in Logum

6 October 2018 to 07: 23
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Logum Petrobras Odebrecht

The transaction refers to the part of Odebrecht Transporte and Camargo Correa Construções in Logum Logística, Petrobras, Raízen and Copersucar will each keep 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 order by the antitrust agency. in the Official Gazette of the Union.

According to the deal, the companies already associated with Logum, the companies Raízen, Copersucar and the state-owned Petrobras will acquire the full participation of Odebrecht Transport and Camargo Corrêa in the company, respectively 20,77% and 10%, informed Cade.

With these transactions, the already associated companies informed above will hold 30% each of the company Logum, which still has Uniduto Logística as a partner, which holds the other 10%.

Originated in 2011, Logum engineered an ethanol logistics system 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.

On the other hand, the competition defense body defended in an opinion that Logum's activities are under the regulation of the ANP (National Agency of Petroleum, Natural Gas and Biofuels) and this business with the associates does not offer concerns.

The applicants' participation in the market is below the minimum necessary for one to imagine a possibility of closing the market, both in terms of the amount of ethanol production and in the flow of logistics for the multimodal transport of ethanol.

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