Glencore Energy Brazilian Subsidiary Buys 78% of ALE Combustiveis
02 Julho 2018 - 3:12AM
Dow Jones News
By Oliver Griffin
Glencore PLC (GLEN.LN) said late on Friday that Glencore Energy
has, through its Brazilian subsidiary, agreed to acquire 78% of ALE
Combustiveis.
The Anglo-Swiss commodities trader said that ALE Combustiveis is
the fourth largest fuel distributor in Brazil and has a network of
around 1,500 gas stations in 22 states, as well as 260 convenience
stores.
No financial information was disclosed but Glencore said the
investment will provide it with a strong platform to take advantage
of domestic growth across the fuel sector in Brazil.
The company said Marcelo Alecrim, one of the founders of ALE,
will maintain his 22% stake in the business. When the transaction
is complete, Mr. Alecrim will assume the role of chairman.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
July 02, 2018 01:57 ET (05:57 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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