Private equity firm EIG Global Energy Partners LLC has bought out Brazilian logistics company Prumo Logistica SA. The transaction was valued at around US$166m.
(Reuters) Private equity firm EIG Global Energy Partners LLC has bought out Brazilian logistics company Prumo Logistica SA, after 18 months of negotiations with its minority shareholders, Prumo said on Friday.
Controlling shareholder EIG needed the acceptance of two-thirds of the minority shareholders to its offer to pay 11.50 reais ($3.53) per share. It reached that mark and Prumo will consequently be delisted by EIG, Prumo said in a securities filing on Friday.
The transaction is worth around 541 million reais ($166 million). ($1 = 3.2573 reais) (Reporting by Carolina Mandl Editing by Phil Berlowitz and Rosalba O’Brien)