ASM Participações Societárias (Asamar) instructed TozziniFreire on the sale of its 50% stake in Alesat Combustíveis.
Alesat is a Brazilian fuel distributor and marketer, owned by private shareholders (18%), the investment fund Darby Overseas (32%) and Asamar (50%). Ipiranga, also in the fuel distribution sector, has agreed to acquire 100% of Alesat. The deal, worth R$2,16 billion (over $260 million), gives Ipiranga 32% of the Brazilian market.
Partners Mauro Guizeline and Francisco Eumene Machado de Oliveira Neto led the TozziniFreire team advising Asamar.