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Brazilian fuel distributor Vibra is reportedly in early-stage talks to acquire Moove, the lubricants unit of Cosan (NYSE:CZZ), according to a Brazil Journal report citing sources close to the matter. The discussions were prompted by CVC Capital Partners, a European private equity firm and minority shareholder in Moove, expressing interest in selling its stake.
Sources say Vibra is considering a full acquisition of Moove, not just CVC’s stake. However, negotiations have reportedly stalled as Cosan’s chairman and controlling shareholder, Rubens Ometto, has shown no interest in divesting his ownership.
Moove, a major player in the global lubricants market, had previously planned an IPO in the United States, but Cosan scrapped the listing last year. The company is known for producing and distributing lubricants under the Mobil brand in Brazil and other international markets.
The potential acquisition would align with Vibra’s strategic goals to expand its footprint in the downstream oil and lubricants segment. A full takeover of Moove could strengthen Vibra’s position in the regional and global lubricants supply chain.
Neither Cosan, Vibra, Moove, nor CVC Capital Partners have issued official statements in response to inquiries, as discussions reportedly remain private and outside normal business hours.
If completed, the deal could mark a significant consolidation in Brazil’s fuel and lubricants industry, though any final agreement would likely hinge on shareholder alignment, especially from Ometto.
The development reflects renewed M&A activity in Brazil’s energy and industrial sectors, with major players exploring strategic divestments and growth opportunities amid changing market dynamics.
