FleetCor Technologies, Inc. (NYSE:FLT) is in talks to buy Sem Parar, in a deal that could be valued at BRL 4 billion ($1 billion) if confirmed, the local Estado de S. Paulo newspaper said. It is still unclear whether all of Sem Parar's shareholders, which include CCR S.A., founder Ivan Toledo, Raizen North America, Inc., would sell their stakes, the report said. But one source close to the deal told the Estado paper that CCR, the largest shareholder, would be among those owners to divest.

Representatives for FleetCor and STP, which is the consortium that controls Sem Parar, did not immediately respond to calls or emails requesting comment.