Ecodiesel Rejects Vanguarda Merger Proposal

Ecodiesel Rejects Vanguarda Merger Proposal

Brazil M&A

The board of directors for Brasil Ecodiesel has rejected Vanguarda’s proposal to merge the two companies, according to a stock exchange announcement. Vanguarda had proposed that Ecodiesel purchase it for BRL1.2bn, or BRL0.89 per share. The combined company would have been worth BRL2.2bn. Local investors had praised the proposal, saying the scale of the combined companies would help reduce risk to both operations while improving profitability. Ecodiesel, which is the country’s largest biodiesel m

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial