Glencore Energy’s Acquisition of 78% of ALE Combustíveis (ALE)


Mundie, TozziniFreire, Demarest and Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga advised on the deal

Glencore Energy, through its subsidiary in Brazil, has signed an agreement to acquire 78% of ALE Combustíveis (ALE) from Grupo Asamar and Darby Latin American Private Equity Fund. Completion of the transaction is subject to the approval of CADE.

ALE is the result of the merger of ALE Combustíveis with the Satelite Distribuidora de Petróleo and is the 4th largest fuel distributor in Brazil. It has a network of approximately 1,500 gas stations in 22 States and about 260 convenience stores.

Following its recent investment in the Mexican downstream sector through G500, Glencore Energy’s investment in ALE is its first in the fast growing Brazilian motor fuels market. The investment will provide Glencore with a strong platform to take advantage of the significant domestic growth opportunities across the fuels sector with the majority of the demand increase to be met by imports.

Glencore’s investment will strengthen Ale, providing a platform for greater participation in the market and the opportunity for the company to enhance its service, logistics and retail operations benefiting consumers and resellers.

Marcelo Alecrim, one of the founders of ALE, will maintain his 22% stake in the business and assume the role of Chairman on completion of the transaction.

Mundie Advogados advised Glencore with Rodolpho de Oliveira Franco Protasio (Picture), Eduardo Migliora Zobaran, Cesar Augusto Rodrigues de Carvalho, Leonardo Fernandes Burlamaqui and Jessica Frühauf Filka.

TozziniFreire advised Grupo Asamar with Mauro Guizeline, Francisco Eumene Machado de Oliveira Neto and Gustavo de Souza Mattos.

Demarest advised Sat Participações – Marcelo Henrique Ribeiro Alecrim with Thiago Rodrigues Maia, Christiano Chagas Monteiro de Melo, Fabio Tayar, Pedro Sanglard and Maria Tereza Romanini Vendramini.

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga advised Darby Latin American Private Equity Fund with Marcelo Sampaio G. Ricupero, Manoela de Barros Pimentel Penteado de Almeida, Marcelo Chiariello de Brito Pereira, Victor Cajano Gomes da Costa and Gabriela Pugliesi Gardino.

Involved fees earner: Rodolpho de Oliveira Franco Protasio – Mundie e Advogados; Jessica Frühauf Filka – Mundie e Advogados; Leonardo Fernandes Burlamaqui – Mundie e Advogados; Eduardo Migliora Zobaran – Mundie e Advogados; Cesar Augusto Rodrigues de Carvalho – Mundie e Advogados; Mauro Guizeline – Tozzini Freire ; Francisco Eumene Machado de Oliveira Neto – Tozzini Freire ; Thiago Rodrigues Maia – Demarest; Fábio Tayar – Demarest; Pedro Sanglard – Demarest; Maria Tereza Romanini Vendramini – Demarest; Christiano Chagas Monteiro de Melo – Demarest; Marcelo Sampaio Góes Ricupero – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Manoela de Barros Pimentel Penteado de Almeida – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Marcelo Chiariello de Brito Pereira – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Victor Cajano Gomes Da Costa – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Gabriela Pugliesi Gardino – Mattos Filho Veiga Filho Marrey Jr & Quiroga;

Law Firms: Mundie e Advogados; Tozzini Freire ; Demarest; Mattos Filho Veiga Filho Marrey Jr & Quiroga;

Clients: Glencore; Asamar S.A. ; Sat Participações ; Darby-BBVA Latin American Private Equity Fund, L.P.;

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Author: Ambrogio Visconti.