SAO PAULO, June 12, 2016 /PRNewswire/ -- Ultrapar
Participações S.A. (BM&FBOVESPA: UGPA3 / NYSE: UGP), a
multi-business company engaged in specialized distribution and
retail (Ipiranga / Ultragaz / Extrafarma), specialty chemicals
(Oxiteno) and storage for liquid bulk (Ultracargo), hereby
announces that its subsidiary Ipiranga Produtos de Petróleo S.A.
signed today a sale and purchase agreement for the acquisition of
100% of Alesat Combustíveis S.A. and the assets integrating its
operations ("ALE"), under which Ultrapar is a guarantor.
Structure of the transaction
The total value of the acquisition is R$
2,168 million. The amount to be paid to the sellers will be
deducted of ALE's net debt as of December
31, 2015 and is subject to working capital and net debt
adjustments as of the closing date of the transaction. The parties
also agreed to maintain an escrow account in order to pay for
possible adjustments related to liabilities or contingencies whose
triggering event occurred prior to the closing of the
transaction.
The completion of the acquisition is subject to certain
customary conditions precedent for this type of transaction, among
which the approval by the Brazilian Antitrust Authority
("Conselho Administrativo de Defesa Econômica" – CADE), and
the approval by Ultrapar's shareholders meeting, in accordance with
article 256 of the Brazilian Corporate Law, that shall be called in
due course. It is worth mentioning that, even if paragraph 2 of
article 256 of Brazilian Corporate Law is applicable, our
shareholders will not be entitled with withdrawal rights, once
Ultrapar's shares have market liquidity and dispersion.
Contact: +55 (11) 3177-7014
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ultrapar-material-notice--ultrapar-through-its-subsidiary-ipiranga-enters-into-an-agreement-to-acquire-alesat-combustiveis-sa-300283426.html
SOURCE Ultrapar Participacoes S.A.