Consumer
Cosan Taps Bank of America, JPMorgan, Citi for US IPO of Moove Unit
- Listing for lubricant producer could happen later this year
- Moove was valued at about $487 million about six years ago
An employee pours an oil based lubricant.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Brazilian conglomerate Cosan SA is working with American banks on a potential US initial public offering of its Moove lubricant business, according to people familiar with the matter.
Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc. are the banks working with the firm, said the people, who asked not to be named because the information isn’t public. A US listing could come as early as the second half of the year depending on market conditions, they said.