Wall Street

Brazil’s Cosan subsidiary Moove acquires U.S. PetroChoice Lubrication

Published by
Reuters UK

By Tatiana Bautzer SAO PAULO (Reuters) – Brazilian lubricant distributor Moove, owned by Cosan SA, has agreed to buy the largest U.S. lubricant distributor, PetroChoice Lubricants, for $479 million, the company said in a securities filing published on Monday. The acquisition will boost Moove’s annual revenue by 50%, to around 9 billion reais ($1.87 billion), Chief Executive Filipe Affonso Ferreira told Reuters in an interview. The company produces and distributes lubricants under the Mobil brand in South America and Europe, with one factory in Brazil and one in the U.K. PetroChoice will add tw…

Read More

Share this Story
Load More Related Articles
Load More In Wall Street