Cosan, which bought Exxon Mobil’s (XOM.N) Brazilian filling station assets, all Esso outlets, in 2008 for almost $1 billion, said in a statement the 83 gas stations it acquired from Petrosul would also operate under the Esso brand.
All of the stations are located in Sao Paulo state.
“The decision is part of the company’s strategy to invest in the Esso and Mobil brands to keep raising its market share in fuels and lubricants,” it said.
Petrosul’s distribution assets and fuel depots were not included in the deal.
Cosan has become one of the most diversified sugar and ethanol companies after it acquired Exxon Mobil’s assets and branched out further by creating a logistics company and an agricultural real estate firm. (Reporting by Inae Riveras; Editing by Walter Bagley)