Mon, Jun. 13, 12:58 PM
- Ultrapar (UGP +3.7%), Brazil's second-biggest fuel distributor, jumps ~4% after agreeing to acquire smaller peer Alesat Combustíveis for 2.17B reais ($635M) in a move that makes it more competitive with Petrobras' (PBR -2.8%) distribution unit.
- UPR’s Ipiranga fuel distribution unit already had more than 7,200 gas stations across Brazil, and the combined company adds another 2K stations to bring its market share near 18%, approaching PBR's market leading BR Distribuidora's nearly 20% market share from 7,500 service stations.
- PBR has said it wants to sell at least 25% of its distribution unit to a strategic partner as part of its plan to sell $15B of assets to pay down debt.
Aug. 10, 2015, 11:44 AM
- Petrobras (PBR +4.4%) shares are off to a strong start on speculation the company has attracted a suitor for its Liquigás gas asset.
- Reuters says the CEO of Ultrapar Participações (UGP +2.8%), which owns the largest natural gas distribution company in Brazil, told local newspaper O Estado de S. Paulo that his company is interested in acquiring the asset.
- The CEO says the company also is interested in some assets controlled by BR Distribuidora, a fuel distribution firm that PBR plans to list on the local exchange within months.
Ultrapar ParticipaÃ§oes SA operates as a holding company, which engages in the distribution of liquefied petroleum gas and the production of chemicals. It operates through the following segments: Gas Distribution, Fuel Distribution, Chemicals, Storage and Drugstores. The Gas Distribution... More
Sector: Basic Materials
Industry: Oil & Gas Refining & Marketing
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