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Brazil regulators postpone ruling on Ultrapar purchase of ALE
June 22, 2017 / 12:47 PM / 6 months ago

Brazil regulators postpone ruling on Ultrapar purchase of ALE

SAO PAULO, June 22 (Reuters) - Brazilian antitrust regulators have postponed a deadline for ruling on the acquisition of fuel distributor Alesat Combustíveis SA by a unit of larger rival Ultrapar Participações SA for 30 days to Aug 16.

The Cade antitrust watchdog was originally scheduled to rule on the transaction at its June 28 meeting, Ultrapar said in a securities filing.

Ultrapar’s unit Ipiranga, Brazil’s No. 2 fuel distributor, agreed in June to acquire rival ALE for 2.17 billion reais ($652.6 million), rivaling the reach of state oil company Petrobras’ distribution unit.

$1 = 3.33 reais Reporting by Gabriela Mello and Bruno Federowski; Writing by Bruno Federowski

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