Brazil: Glencore seeking Alesat acquisition

Commodities trader Glencore PLC has started negotiations to acquire Brazilian fuel distribution company Alesat Cubustíveis SA.

The distributor has been a highly coveted property, receiving offers from Ultrapar Participações, as well as Vitol SA and French company Total. Ultrapar’s offer was rejected last year by competition regulator CADE.

Glencore has offered no comment.

Full Content: Reuters

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