Vitol to acquire 50% in Brazilian downstream company Rodoil
Published by Alex Hithersay,
Editorial Assistant
Tanks and Terminals,
Vitol has agreed to acquire 50% of Brazilian downstream company Rodoil for an undisclosed sum.
Rodoil’s Brazilian downstream network comprises some 300 branded service stations and a distribution business supplying an additional 1400 plus service stations through its network of 10 terminals. Sales in 2018 are expected to be approximately US$1.2 billion.
The company was founded in 2006 by current CEO Roberto Tonietto, who will continue to lead Rodoil from its headquarters in Caxias do Sul.
The transaction is subject to certain conditions precedent, including regulatory approvals, and is expected to close in 4Q18.
Read the article online at: https://www.tanksterminals.com/terminals/02102018/vitol-to-acquire-50-in-brazilian-downstream-company-rodoil/
You might also like
MidOcean Energy completes acquisition of 20% stake in Peru LNG
MidOcean Energy has announced the completion of its agreement to acquire SK Earthon’s 20% interest in Peru LNG (PLNG), owner and operator of the first LNG export facility in South America.