Industrial Info Resources

April 03, 2007 08:01 ET

Petrobras, Braskem and Ultrapar Acquire Ipiranga, Brazil's Second Largest Refining Company

CORDOBA, ARGENTINA--(CCNMatthews - April 03, 2007) - Researched by Industrial Info Resources (Sugar Land, Texas). Brazil's state-owned oil company, Petrobras, together with two other Brazilian companies, Braskem and Ultrapar, acquired the petrochemical, oil and energy group Ipiranga for $4 billion. Petrobras paid $1.3 billion, Braskem $1.1 billion and Ultrapar $1.6 billion.

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