The group’s Brazilian oil and gas company, the Batista family’s holding company, wants to expand its presence in the region and has made a non-binding offer for the assets onshore of Brava Energia (), according to two people familiar with the possible deal.
Fluxus was acquired by J&F in 2023. Simultaneously, the group purchased a field from Pluspetrol in Argentina, in 2024, with three oil fields.
According to one of the people, who requested anonymity due to the private nature of the discussions, Fluxus is now looking to expand further, mainly in Brazil, Argentina, Bolivia and Peru.
The same source mentioned that Fluxus’ interest in Brava’s assets depends on more in-depth analysis.
Brava, formed from the merger between 3R and Enauta, recently received five non-binding proposals for its assets onshoreaccording to one of the sources. The market values assets onshore of Brava at around US$2 billion.
J&F, whose controllers are also the main shareholders of the meatpacking giant JBS (), has interests in several segments, including food, personal care, pulp and paper, financial services and much more.
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J&F is continually seeking new business, according to the same two sources. Fluxus and , the holding company’s power generation and trading arm, however, are likely among the group’s fastest-growing companies, one of the people said.
