Moove US Postpones IPO

Moove Lubricants Holdings postponed an initial public offering, which was set to price on Wednesday. Public filings say the postponement is due to “adverse market conditions.” CVC Capital Partners set a target of up to $1.94 billion valuation for the US IPO earlier this month.

Moove is a subsidiary of Cosan S.A., one of Brazil’s largest business groups. It invests in energy and logistics and has approximately $23 billion revenue. For more about Moove, see Titans in Lubricant Distribution – Moove