| | | Brazil's Cosan acquires 4.9% of miner Vale, plans to buy more. Cosan is an energy company.
Vale is iron ore, nickel etc. You put together, but they are not telling you this, minerals + energy and you get the new geography of industry as European industry need to find new areas with availbale energy and supply chains seek to reshore from China.
Things got more interesting this week as Banco Bradesco acquired 23% of Cosan Dez the company that controls Compass Gás e Energia, in R$ 4 billion deal. Yes, Compass that jointly with Mitsui Gas E Energia Do Brasil Ltda bought Gaspetro from Petrobras renaming it Commit Gás.
Cosan owns 61.73% of Comgas's stock, and Shell owns 17.12%. The remainder is publicly traded on B3. Cosan acquired its stake from BG Group in November 2012 for $1.7 billion.
Compass says:
It is strategically focused on
(i) natural gas distribution, through Comgás, Brazil’s largest gas company in terms of volume;
(ii) infrastructure and origination of gas, having access to the competitive supply of pre-salt gas and importing liquefied natural gas (LNG);
(iii) gas trading, optimizing our supply and demand portfolio, building diversification, flexibility and competitiveness; and
(iv) gas-powered thermal generation and energy trading, transforming gas into electricity. |
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