Cosan has entered into a Sale and Purchase Agreement ('SPA') with Esso Petroleum Company, Limited (EPCo) to acquire Comma Oil & Chemicals Limited ('Comma').

Cosan has entered into a Sale and Purchase Agreement ('SPA') with Esso Petroleum Company, Limited (EPCo) to acquire Comma Oil & Chemicals Limited ('Comma').

Comma, which is located in Kent, England, is a wholly-owned subsidiary of EPCo. The acquisition of Comma by Cosan includes finished lubricants and chemicals manufacturing and sales to third parties; all assets located at Comma's Gravesend site in Kent, England; and ownership of the Comma trademarks and brands. The value of the transaction, after all adjustments, will not exceed US$100 million.

During a transition period, which is expected to be completed by the third quarter of 2012, Comma will continue to operate as normal under the Comma brand. All current contracts will remain unchanged. It is anticipated that Comma will continue to manufacture and sell Comma-branded and private label products following change in control (CIC), in order to facilitate Cosan's entry into the European lubricants market.

Cosan intends to grow the business operations of Comma and to provide on-going high quality products and services for the company's customers.

"Cosan is delighted at our successful purchase of this business, commented Nelson Gomes, Cosan Executive Director. We will continue the ongoing, flawless operation of the Comma business by ensuring the highest standards of customer service, management and environmental practices."