Reported about 1 year ago
Brazilian conglomerate Cosan SA is collaborating with Bank of America Corp., JPMorgan Chase & Co., and Citigroup Inc. for a potential US initial public offering of its Moove lubricant business. Moove, which is owned 70% by Cosan and 30% by CVC Capital Partners Plc, is a major producer and distributor of lubricants and basic oils in South America, Europe, and the US. The equity sale of Moove values it at over 10 times EBITDA, and CVC is looking to sell part of its stake in the transaction.
Source: YAHOO