Ultra acquires 100% stake in União Terminais for US$296 mln

11-Jun-08

Brazilian petrochemicals and gas group Ultra, through its subsidiary Ultracargo, has acquired 100% stake in Unipar's União Terminais e Armazéns Gerais for 483 mln reais (US$296mln). With this, Ultracargo will be Brazil's leader in liquid bulk storage, with total capacity of 502,000m3 - about 30% of the total national capacity. The acquisition includes a terminal at Santos port, another one in Rio de Janeiro and 50% of União's stake in Vopak at Paranaguá. The deal is still subject to clearance by port authorities, within 60 days.