Petrobras takes full control of Logum in R$620 million biofuels logistics deal

Petrobras has agreed to acquire the remaining 70% of Logum Logística in a transaction valued at R$620 million, giving Brazil’s state-controlled oil company full ownership of a strategic biofuels transport network.

The company already held 30% of Logum. Under the agreement, it will buy the stakes held by Raízen, Copersucar and Uniduto Logística. Raízen is selling a 30% interest and said it will receive R$310 million from the transaction. Copersucar is also selling 30%, while Uniduto is divesting its 10% stake.

For international investors, the deal is a notable signal of Petrobras’s renewed appetite for downstream infrastructure tied to Brazil’s energy transition. Logum operates in the logistics chain for biofuels, a market closely linked to the country’s large sugarcane ethanol industry and its expanding low-carbon fuels agenda.

Payment structure and regulatory path

The purchase price will be paid in three installments, with the final amount subject to contractual price adjustments. Petrobras will pay R$300 million when the deal closes, followed by R$160 million after 12 months and another R$160 million after 24 months.

Completion is not immediate. The transaction must first meet conditions set out in the contract, including clearance from Cade, Brazil’s Administrative Council for Economic Defense. Cade is the federal antitrust regulator responsible for reviewing mergers and acquisitions that may affect competition in the Brazilian market.

That review will matter because the asset sits in a sensitive area of infrastructure. Pipelines and terminals can shape access, costs and competitive dynamics in fuel distribution, particularly in a country where transport bottlenecks often influence commodity margins.

Why Logum matters to Petrobras

Logum moved about 5 million cubic meters of products in the last crop season. Its network includes more than 1,000 kilometers of pipelines and terminals in Uberaba, in Minas Gerais state, and Ribeirão Preto and Paulínia, both in São Paulo state.

Those locations place the company close to key ethanol-producing regions and consumption centers in Brazil’s Center-South, the country’s most important sugarcane belt. Petrobras said the acquisition has attractive economic and financial conditions in light of growth in the ethanol market, and that it strengthens its presence in the main national logistics corridor for the biofuel in the Center-West region.

The company also said the transaction should generate relevant synergies by linking Logum’s pipeline system to the broader Petrobras System. For a global audience, the Petrobras System refers to the company’s integrated network of production, refining, transport and distribution infrastructure. Bringing Logum fully inside that network could give Petrobras greater operational control over how biofuels move between production zones, storage points and downstream markets.

The deal also aligns with Petrobras’s business plan to expand its activities in renewable and low-carbon energy. While the company remains Brazil’s dominant oil and gas producer, its capital allocation has increasingly included assets that connect hydrocarbons, biofuels and energy transition infrastructure.

Portfolio moves across Brazil’s biofuels sector

For Raízen, the sale fits a different strategic priority. The company said in a separate statement that the divestment is consistent with its plan to optimize its asset portfolio and simplify operations.

Raízen, a major player in sugar, ethanol and fuel distribution, has been working to sharpen its capital allocation across a broad set of businesses. Selling the Logum stake removes a minority infrastructure holding while Petrobras consolidates an asset that may be more valuable inside a larger national logistics platform.

Copersucar and Uniduto are also exiting the shareholding structure through the transaction. Once approved and closed, Petrobras will move from being a minority shareholder to sole owner of Logum.

The transaction underlines a broader investment theme in Brazil. Biofuels are not only an agricultural or environmental story. They depend on hard infrastructure, including pipelines, terminals and storage capacity, and those assets can become increasingly important as demand rises and fuel supply chains become more complex.

For companies and investors assessing Brazil’s energy, infrastructure or agribusiness opportunities, Logum’s sale is a reminder that the country’s biofuels market is tied to logistics as much as production. To explore investment and business opportunities in Brazil, connect with Brazil Business Club.