March 20, 2018 / 2:47 PM / 4 months ago

Vitol, Total in talks to acquire Brazil's Alesat

RIO DE JANEIRO (Reuters) - Vitol, the world’s biggest oil trader, and France’s Total (TOTF.PA) are in talks to acquire Brazilian fuel distribution company Alesat Combustíveis SA, Brazilian newspaper Valor Economico said on Tuesday.

A sign is pictured in front of the Vitol Group trading commodities company building in Geneva October 4, 2011. REUTERS/Denis Balibouse

Talks with Vitol are more advanced but there is also a third firm — an American commodities trader — which is also interested, the paper said, citing executives familiar with the matter.

A customer holds a gas pump as he fills-up his car in a Total station in Nice, France, February 9, 2017. REUTERS/Eric Gaillard

Shareholders in Alesat had agreed to sell the company to the fuel distribution unit of Ultrapar Participações SA (UGPA3.SA) for 2.17 billion reais (£469.25 million) in June 2017. But Brazilian antitrust watchdog Cade blocked the deal last August.

To the paper, Alesat denied its shareholders are in talks to sell the company.

Alesat and Total did not immediately respond to requests for comment. Vitol declined to comment.

Reporting by Alexandra Alper; Editing by Bernadette Baum

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