Inpasa: Vibra's founder's family has invested in Vibra to achieve financial goals

Inpasa, an ethanol producer, said that on Friday a family fund connected to its founder had invested in Brazilian fuel retailer Vibra. The investment was made with purely financial goals and has no connection to Inpasa's operations.

The news outlet Brazil Journal reported late on Thursday that Inpasa (which was founded in Paraguay, and is Brazil's largest corn ethanol producer) had been buying shares in Vibra. They now have a 3% share and want to increase it.

Inpasa didn't disclose in a press release the amount of Vibra shares owned by the fund.

The firm stated that "this fund has a diverse portfolio with stakes held in several listed companies including Vibra without this representing any corporate or strategic link with Inpasa."

Vibra didn't immediately respond to an inquiry for comment.

Vibra shares traded in Sao Paulo settled at 2.7% higher than the previous session, according to preliminary data. This made Vibra the largest gainer of the Brazilian benchmark index Bovespa. ($1 = 5,4226 reais). (Reporting and editing by Natalia Siniawski, Brendan O'Boyle and Andre Romani)

(source: Reuters)