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.hydrocarbonengineering.com/tanks-terminals/02102018/vitol-to-acquire-50-in-brazilian-downstream-company-rodoil/