Stratrix
On the Record · Cosan

Cosan acquisitions, on the record

The businesses Cosan bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
Vale S.A. shares (interest in Vale)
Word for word“On October 14, 2022, our subsidiary Cosan Oito S.A., or “Cosan Oito,” completed the R$ 16,425.4 million investment in the shares of Vale.” 20-F for 2023
acquisitionOctober 14, 2022R$ 16,425.4 million
33,524,185 shares of Vale
Word for word“On April 19, 2024,we concluded the sale of a further 33,524,185 shares of Vale, equivalent to 0.78% of Vale’s outstanding share capital, and also repaid the remaining indebtedness assumed in connection with our investment in Vale.” 20-F for 2023
agreed divestitureApril 19, 2024—
Sulgás (Companhia de Gás do Estado do Rio Grande do Sul)
Word for word“On January 3, 2022, Compass’s subsidiary Compass Um Participações S.A. concluded the acquisition of 51% of the capital stock of Sulgás, assuming the control of Rio Grande do Sul’s gas supply concessionaire.” 20-F for 2023
acquisitionJanuary 3, 2022—
Commit (formerly Gaspetro)
Word for word“In addition, on July 11, 2022 Compass concluded the acquisition of 51% of Commit, a holding company that holds interests in 11 gas supply concessionaires in 11 states of Brazil.” 20-F for 2023
acquisitionJuly 11, 2022—
PetroChoice
Word for word“In May 2022, Moove expanded its international portfolio by acquiring PetroChoice, a lubricants distributor and marketer for Mobil brand products and proprietary brands in the United States that distributes about 240 million liters of lubricants annually, and its assets, which include two lubricant blending plants and more than 50 distribution centers across 25 states.” 20-F for 2023
acquisitionMay 2022—
Tirreno
Word for word“Moove also acquired Tirreno, a privately held company headquartered in Brazil, specialized in the production and sale of lubricating oils, additives and fluids.” 20-F for 2023
acquisition——
Tellus, Janus, Gamiovapar and Duguetiapar (additional stakes)
Word for word“Cosan acquired additional stakes in Tellus, Janus, Gamiovapar and Duguetiapar in September 2022.” 20-F for 2023
acquisitionSeptember 2022—
Radar (additional interest)
Word for word“In November 2021, we concluded the acquisition of an additional interest in Radar.” 20-F for 2023
acquisitionNovember 2021—
WX Energy Comercializadora de Energia Ltda.
Word for word“the electricity trading operations of WX Energy Comercializadora de Energia Ltda., or “WX Energy,” which Bioenergia Barra Ltda., a wholly-owned subsidiary of Raízen Energia, acquired on July 5, 2018, and Edge Comercialização S.A. (formerly known as Compass Comercialização S.A.), or “Edge Comercialização,” which was acquired on January 31, 2020, are highly regulated and supervised by the Brazilian government, including through ANEEL as well as other regulatory authorities.” 20-F for 2023
acquisitionJuly 5, 2018—
Edge Comercialização S.A. (formerly Compass Comercialização S.A.)
Word for word“the electricity trading operations of WX Energy Comercializadora de Energia Ltda., or “WX Energy,” which Bioenergia Barra Ltda., a wholly-owned subsidiary of Raízen Energia, acquired on July 5, 2018, and Edge Comercialização S.A. (formerly known as Compass Comercialização S.A.), or “Edge Comercialização,” which was acquired on January 31, 2020, are highly regulated and supervised by the Brazilian government, including through ANEEL as well as other regulatory authorities.” 20-F for 2023
acquisitionJanuary 31, 2020—
Stanbridge
Word for word“On November 1, 2017, we acquired Stanbridge, which distributes lubricants and fuels in some regions of the United Kingdom.” 20-F for 2023
acquisitionNovember 1, 2017—
Vale S.A. shares (investment completed by Cosan Oito S.A.)
Word for word“On October 14, 2022, our subsidiary Cosan Oito S.A., or “Cosan Oito,” completed the R$16,425.4 million investment in the shares of Vale.” 20-F for 2024
acquisitionOn October 14, 2022R$16,425.4 million
Compagas
Word for word“On September 16, 2024, Compass concluded the acquisition of 51% of the share capital and control of Compagas for R$962.1 million.” 20-F for 2024
acquisitionOn September 16, 2024R$962.1 million
Norgás S.A. (51% stake sold to Infra Gás e Energia S.A.)
Word for word“On November 6, 2024, Compass concluded the strategicsale of its 51% stake in Norgás S.A., or Norgás, to Infra Gás e Energia S.A.” 20-F for 2024
divestitureOn November 6, 2024—
DIPI Holdings S.A.
Word for word“On September 29, 2024, Cosan Lubrificantes e Especialidades S.A , or CLE, a subsidiary of Moove, entered into a purchase and sale agreement to acquire 100% of the shares of DIPI Holdings S.A. for the price of R$410.0 million, R$310.0 million of which would be payable in cash, which after debt and working capital adjustments on the closing date resulted in a disbursement of R$232.9 million, and an earn-out payment of up to R$100.0 million to be paid in two installments until 2027.” 20-F for 2024
agreed acquisition—R$410.0 million
Sulgás
Word for word“On January 3, 2022, Compass’s subsidiary Compass Um Participações S.A. concluded the acquisition of 51% of the capital stock of Sulgás, assuming the control of Rio Grande do Sul’s gas supply concessionaire.” 20-F for 2024
acquisitionOn January 3, 2022—
Barcos y Rodados S.A. (B&R), 50% stake acquired by Raízen
Word for word“On November 1, 2021, Raízen concluded the acquisition of 50% of the capital stock of Barcos y Rodados S.A., or “B&R.”” 20-F for 2024
acquisitionOn November 1, 2021—
Shell Brasil Petroleo Ltda.’s lubricants operations in Brazil (acquired by Raízen)
Word for word“On May 1, 2022, Raízen concluded the acquisition of the entirety of Shell Brasil Petroleo Ltda.’s lubricants operations in Brazil, including a production unit strategically located in Ilha do Governador, Rio de Janeiro, that produces and distributes lubricants under Shell brand in Brazil.” 20-F for 2024
acquisitionOn May 1, 2022—
Norgás S.A.
Word for word“On November 6, 2024, Compass concluded the sale of its 51% stake in Norgás S.A., or Norgás, to Infra Gás e Energia S.A.” 20-F for 2025
divestitureOn November 6, 2024—
Pax Group
Word for word“On January 2, 2025, Moove further expanded its Brazilian portfolio through the acquisition of Pax Group, a lubricants and greases manufacturer that also produces plastic packaging for the lubricants market.” 20-F for 2025
acquisitionOn January 2, 2025—
Tamco Group
Word for word“On July 1, 2025, Moove also completed the acquisition of Tamco Group, a manufacturer and seller of automotive and industrial lubricants composed of two operating companies in addition to its holding company.” 20-F for 2025
acquisitionOn July 1, 2025—

Read from Cosan’s annual reports (20-F for 2025, 20-F for 2024, 20-F for 2023) and the financial data it files with the SEC, as of 2026-04-10. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.