Petrobras signed an agreement to become 100% owner of the company Logum Logística, which operates in the transportation, movement and storage of ethanol.
The state-owned company already owned 30% of Logum's share capital and agreed terms to pay R$620 million for the remaining 70%, which belongs to the companies Raízen Energia (30%), Copersucar (30%) and Uniduto Logística (10%).
The information was released this Thursday (12), initially through a statement to the company's investors.
The acquisition also depends on compliance with precedent conditions set out in the purchase and sale contract, including approval by the Administrative Council for Economic Defense (Cade), a government body that analyzes business operations and monitors compliance with antitrust rules.
Payment will be made in three installments:
R$300 million at the closing of the operation
R$160 million after 12 months
R$160 million after 24 months.
The values are subject to price adjustments provided for in the contract.
Ethanol logistics
Logum Logística is headquartered in Rio de Janeiro and operates a network of pipelines with more than 1 thousand kilometers and terminals in Uberaba (MG), Ribeirão Preto (SP) and Paulínia (SP), which receive ethanol from production units in the interior of the country via the highway.
The fuel is then transported via pipelines to distribution hubs in the state of São Paulo (Barueri, Guarulhos, São Caetano do Sul and São José dos Campos) and in Duque de Caxias (RJ), in addition to the Ilha D’Água maritime terminal, in Guanabara Bay, in Rio de Janeiro.
From these points, ethanol is loaded onto tankers, which carry out cabotage (transport on vessels within the country) and export.
Petrobras interests
According to Petrobras, the purchase positions the state-owned company in the country's main ethanol logistics corridor, and the acquisition presents “attractive economic and financial conditions, considering the growth of the ethanol market, with emphasis on the expansion of corn ethanol production in the Central-West region”.
Petrobras highlighted that the new logistics network promotes “relevant synergies”, by enabling the integration of Logum’s pipeline network into the Petrobras System, “with the potential to generate more value for the company’s logistics assets”.
The oil giant states that the acquisition is in line with the company's business plan, which envisages expanding its operations in renewable and low-carbon sources businesses, “contributing to the profitable diversification of the company's portfolio”.
Less emission
Petrobras emphasized that, in addition to logistical efficiency, transport via pipelines represents a lower intensity of greenhouse gas emissions, responsible for global warming and climate change.
According to the company, transporting 1 million cubic meters (m³) per year through pipelines is equivalent to removing approximately 80 trucks per day from the highways.
In the 2025-2026 harvest, Logum moved around 5 million m³ of products.
The logistics company estimates that, by 2030, it will have moved 1.2 million truck trips, which should avoid the emission of around 1.4 million tons of carbon dioxide (CO2), one of the greenhouse gases.
