Glencore Energy invests in ALE Combustíveis
São Paulo, Brazil, 29 June 2018
June 29, 2018 - Glencore Energy (Glencore), through its subsidiary in Brazil, has signed an agreement to acquire 78% of ALE Combustíveis (ALE). Completion of the transaction is subject to the approval of CADE (Administrative Council for Economic Defense).
With 22 years of history, ALE is the result of the merger of ALE Combustíveis with the Satelite Distribuidora de Petróleo and is the 4th largest fuel distributor in Brazil. It has a network of approximately 1,500 gas stations in 22 States and about 260 convenience stores.
Following its recent investment in the Mexican downstream sector through G500, Glencore Energy's investment in ALE is its first in the fast growing Brazilian motor fuels market. The investment will provide Glencore with a strong platform to take advantage of the significant domestic growth opportunities across the fuels sector with the majority of the demand increase to be met by imports.
Glencore's investment will strengthen Ale, providing a platform for greater participation in the market and the opportunity for the company to enhance its service, logistics and retail operations benefiting consumers and resellers.
Marcelo Alecrim, one of the founders of ALE, will maintain his 22% stake in the business and assume the role of Chairman on completion of the transaction.
For further information, please contact:
t: +41 41 709 2880
m: +41 79 737 5642
t: +41 41 709 2714
m: +41 79 543 3804
t: +41 41 709 24 62
m: +41 79 904 33 20
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities.
With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 146,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, "Glencore", "Glencore group" and "Group" are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words "we", "us" and "our" are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.