Energy

Vibra CEO Dismisses Idea of Eneva Talks, Not Seeking Other Deals

Brazil fuel distributor rejected non-binding offer last year
Company on good path, now has its ‘own agenda of growth’

Ernesto Pousada during an interview in Sao Paulo, on March 1.Photographer: Maira Erlich/Bloomberg

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By Rachel Gamarski, Vanessa Dezem, and Leda Alvim

March 1, 2024 at 7:47 PM UTC

This article is for subscribers only.

Vibra Energia SA, Brazil’s largest fuel distributor, isn’t engaged in talks with power company Eneva SA nor is it interested in exploring a potential merger, according to Vibra’s top executive.

Chief Executive Officer Ernesto Pousada said the offer his company got from Eneva in November was unattractive because the price was too low. He also said Vibra isn’t engaged with JPMorgan Chase & Co. to advise it on potential deals.