Ultrapar Participacoes SA (UGP) has released an update.
Ultrapar Participações S.A. has announced the purchase of 49 service stations from Grupo Pão de Açúcar for R$ 130 million, as part of its strategy to expand its Ipiranga service station network in Brazil. The deal is pending approval from Brazil’s Administrative Council of Economic Defense and other regulatory conditions. This acquisition aims to bolster Ultrapar’s already significant presence in the Brazilian fuel distribution market, which includes around 6,000 Ipiranga service stations.
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