ADVERTISEMENT
2 /3 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Brazilian Firms Split Rival Ipiranga

March 26, 2007 | APPEARED IN VOLUME 85, ISSUE 13

In a deal valued at $4 billion, Brazil's state oil company Petrobras, chemical maker Braskem, and chemical producer and fuels distributor Ultrapar are buying Ipiranga, a $15 billion-per-year Brazilian refiner and petrochemical maker. The transaction is a multistaged process whereby Ultrapar will buy Ipiranga and sell off some of its assets to Petrobras and Braskem. Braskem will get 60% of Ipiranga's petrochemical assets, and Petrobras will get the rest. Ipiranga generated about $1 billion in petrochemical sales in 2006. Braskem CEO José Carlos Grubisich says the acquisition is a step on the way to making his company one of the top 10 chemical companies in the world in terms of stock market value.

X

Article:

This article has been sent to the following recipient:

Leave A Comment

*Required to comment