Vibra buys half of Comerc

Vibra buys half of Comerc

Corporate & Sovereign Strategy Debenture Equity IPO M&A Brazil Capital Markets Energy

Brazilian fuel distribution company Vibra, formerly known as BR Distribuidora, agreed to spend BRL3.25 billion ($587 million) to buy 50% of renewable energy trading company Comerc Energia, it said in a securities filing. Vibra will make the investment in two stages. First it will buy BRL2 billion in four-year convertible debentures, equal to 30% of of Comerc's capital stock. It will then have the option to buy up to another 20% of Comerc for BRL1.25 billion, it said in the filing on Friday.  "Th

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