Chinese Giant Negotiates Acquisition of Vast with Prumo Logística

According to Pipeline, Prumo Logística is progressing in negotiations with China Merchants to sell Vast Infraestrutura. The company has been in talks with potential buyers since last year, when it appointed Goldman Sachs to explore a full or partial sale of its oil and gas terminal.

China Merchants already owns TCP, the container terminal in Paranaguá, which was acquired in 2017 for R$ 2.9 billion. Now, the Chinese company has emerged as the leading contender to take over the operations of the former Açu Petróleo, which manages infrastructure and transshipment services for liquids, primarily oil. It is the only private terminal in Brazil capable of receiving VLCC-type supertankers.

The deal is estimated to be worth around USD 1.7 billion. Prumo Logística’s shareholders include Mubadala and EIG Partners. When contacted by Pipeline, Prumo declined to comment, and China Merchants had not responded at the time of publication.

Source: Pipeline

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