July 31, 2019 / 9:07 PM / 23 days ago

Vitol to buy 50% stake in Brazil's Grupo Dislub Equador

(Reuters) - Energy trading company Vitol SA said on Wednesday it will acquire 50% of Brazil’s Grupo Dislub Equador (GDE) for an undisclosed amount to build its downstream presence in Brazil.

The company said bit.ly/336a7cy it has entered into a long-term partnership with GDE, which owns the sixth largest branded service station network in Brazil, to build a leading downstream company in Northern Brazil.

The transaction is expected to close in the fourth quarter, Vitol said in a statement.

This is Vitol’s second such deal in Brazil, with the energy trader having bought a 50% stake in fuel distribution company Rodoil in October.

Reporting by Bhargav Acharya in Bengaluru; Editing by Chris Reese

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