The Brazilian state-owned oil company Petrobras has signed this Thursday an agreement to buy the 70% of the capital of Logum Logística that it still did not own, for an amount of 620 million reais (99.8 million euros).
The payment will be made in three installments: 300 million reais (48.3 million euros) at the time of closing of the transaction, 160 million reais (25.8 million euros) twelve months later, and another 160 million reais two years afterward. These amounts could be subject to adjustments.
With this transaction, Petrobras will take over the 30% that is in the hands of Raízen Energia, another 30% owned by Copersucar, and the 10% that Uniduto Logística holds, which will be added to the 30% that Petrobras already controls once it obtains approval from the Administrative Council for Economic Defense (CADE).
Petrobras, in which the Brazilian State holds a 35.45% stake, has emphasized that taking control of Logum presents “attractive financial and economic conditions” in light of the dynamism of the ethanol market.
The company has highlighted that this transaction will make it the country’s main logistics operator for ethanol transport, while also generating “significant operational synergies” thanks to the integration of Logum’s pipeline network with Petrobras’ infrastructure.
The company has stated that the purchase fits with its strategic plan, which includes strengthening its presence in renewable and low-emission energies in order to diversify its portfolio of assets.
It has also estimated that transporting one million cubic meters per year via pipelines is equivalent to removing 80 trucks per day from the roads. In the 2025-2026 campaign, Logum moved around five million cubic meters.