Thursday, November 17, 2016

Owner of the Ipiranga network must announce purchase of Liquigas-Doimo

São Paulo – Petrobras should announce this week the sale of its Division of cooking gas, Liquigas-Doimo, Ultra group, owner of the Ipiranga stations network, according to the associated press found. The transaction is valued at up to 2.8 billion R$. In October, the two companies have informed the market that were in early talks for a deal.
Named as favourite to take the deal, the Ultra is also owner of Ultragaz, which is a leader in selling gas canister in the country. With the transaction, Ultra will hold 45% of the segment.
The company was active with competitors like the Dutch new bath regeneration plans (VHS); national gas, Northeastern Edson Queiroz group; and Copagaz, the businessman Ueze Zahran. They also had interest in the business investors from outside, as the Turkish Aygaz. In recent months, national gas and Copagaz reached make joint proposal by active.
Sources said that the talks between the two companies have advanced in recent weeks and depended on contractual arrangements. Sought, Ultrapar, the holding company of the Group Ultra, did not comment. Petrobras did not return requests for interviews. The transaction is being sewn by Itaú BBA, also spoke.
The climate is of uncertainty within the Liquigas-Doimo, fearing personal cut with the arrival of the new owner, showed the associated press.
The national market of cooking gas is concentrated in the hands of Ultragaz, largest in this segment, with 23.11% stake. The company Petrobras is second, with 22.61%; then the new bath regeneration plans, with 20.42%. The gas is fourth largest National company, Copagaz is in fifth position.
The transaction will depend on the approval of the Administrative Council for economic Defense (Cade). Sources have said to the associated press that the antitrust agency could point overlaps in States where there will be greater concentration, as Bahia (61%), Santa Catarina (51%), Rio Grande do Sul (57%) and São Paulo (57%), according to data collected by Ecostrat consultants.
Concentration risks relative to the acquisition had already been singled out by the Brazilian Association of LPG Dealers (Asmirg-BR), since, with the incorporation of the company, the Ultra will have 45% field in the country.
The Ultra, however, would be willing to negotiate the assets with market overlap. Last Friday, during a teleconference with analysts, after disclosure of results, Thilo Mannhardt, President Director of the Company, said that if the deal is closed, the faithful of the scale will be the Administrative Council for economic defense. "It is very obvious that this case will demand attention from Where," he said.
National giant.
With revenues of R$ 75.7 billion in 2015, the Ultra group is more aggressive in acquisitions this year. In June, the conglomerate, announced the purchase of the network of fuel stations Ale, by R$ 2.17 billion, reinforcing the Ipiranga. With this transaction, became the Deputy leader in distribution of fuels, after BR Distribuidora, Petrobras, which is also for sale.
Sources claim that the Extrafarma (network of pharmacies that the Group acquired in 2013) will be able to buy the flag Big Ben, which belongs to the retail pharmaceutical company BR Pharma, BTG, which currently faces financial difficulties. Both companies have a strong presence in the State of Pará.
Still in the same Conference, Mannhardt said the company''s expansion plan is based on organic growth and acquisitions. "The purchase of Ale and other acquisitions to come seek the strengthening of each business strategy."
In the third quarter, the Ultra closed with net revenues of R$ 19.45 billion, up 1% on the same period in 2015. Net profit came in at R$ 376,800,000, an increase of 27.3% from July to September 2015. The information is from the newspaper O Estado de s. Paulo.
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