Ultrapar Sells Oxiteno to Focus on Renewable Energy Investments and Energy Transition

Written by Valdemar Medeiros

Published on 17/08/2021 at 12:22

Ultrapar anunciou de um contrato de US$ 1,3 bilhão com a Indorama Ventures PLC para a venda de Oxiteno – créditos: EPBR

Seja o primeiro a reagir!

In The Midst Of Energy Transition, Ultrapar Sells Oxiteno, After Selling Extrafarma And ConectCar, To Focus Its Investments In Renewable Energy And Prepare For The Energy Transition

Ultrapar announced on Monday (16) the sale of its special chemicals unit Oxiteno to Indorama, a group from Thailand. The sale contract had a total value of US$ 1.3 billion, according to the company. The sale occurred because the company wants to maintain its focus on the energy transition, aiming to invest more in the renewable energy market.

Ultrapar Sells Oxiteno, Extrafarma, And ConectCar

According To Ultrapar, Oxiteno And Indorama Have Collaborations In The Derivatives And Integrated Oxides Business, Mainly In The Downstream Portfolio Of Surfactants. Working Together, The Two Companies Will Create A Globally Relevant Player In The Production Of Ethoxylates. The Sale Of Oxiteno Is Directly Linked To Ultrapar’s Strategy To Focus On The Renewable Energy Market.

The Company, Which Recently Sold Extrafarma To Pague Menos And 50% Of Its Stake In ConectCar To Porto Seguro, Is Taking Steps To Develop Investment Opportunities In Renewable Energy, Focused On The Growing Energy Transition. The Completion Of The Sale Of Oxiteno Will Have Certain Conditions, Including Approval By Regulatory Authorities In Both The United States And Brazil.

ARTICLE CONTINUES BELOW

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

The Technical Agenda and the Fair in the City of Macaé Should Boost Discussions on Investments, Energy Transition, and Development of the Oil, Gas, and Energy Chain in the National...

Paulo Nogueira

A Preference Right Will Also Be Granted To Ultrapar Shareholders Who Wish To Buy Shares Of Oxiteno In Proportion To Their Respective Shareholdings In The Company’s Share Capital And At The Same Price Per Share To Be Paid By The Thai Company. Shareholders Who Acquire The Right Will Now Become Direct Shareholders Of Oxiteno.

Ultrapar’s CFO And Relations Director Speaks Out

In Addition To The Investments Being Studied By The Company In Refining, Natural Gas, And Others, Ultrapar Is Evaluating Investment Opportunities In Renewable Energy, According To The Company’s CFO And Relations Director, Rodrigo Pizzinatto.

According To The Executive, With The Sale Of Oxiteno, The Group Is Moving Toward Businesses Focused On The Energy Transition. The Sale Reinforces The Vision That The Company Is At A Moment Of Opportunities For Investment In Renewable Energy, Oil, And Gas. In Addition, Pizzinatto States That The Ultra Group Is Also Evaluating Opportunities For Expansion And Competitiveness In Assets That Remain In The Company’s Portfolio.

Oxiteno’s Debt Will Remain With The Sale

The Strong Performance Of Oxiteno In Recent Months, According To Pizzinatto, Contributed To The Company’s Value Increase, Resulting In A Capital Gain From The Sale Since The Book Value (R$ 1.7 Billion) Is Lower Than The Sale Value Of US$ 1.3 Billion.

The Funds Will Be Directed Straight To Ultrapar’s Cash And An “Intercompany” Debt Of Approximately US$ 750 Million From Oxiteno Will Accompany The Sale. Thus, The Income Tax On Capital Gains Will Be Below US$ 70 Million According To The Executive.

The First Installment Will Be Received At The Beginning Of Next Year, As Will The Proceeds From The Sale Of 50% Of ConectCar, Mentioned Previously. The Second Installment Related To Oxiteno Will Be Received Two Years After The Contract, And There Will Be No Precedent For Disbursement.

Ultrapar Sells Oxiteno to Focus on Renewable Energy Investments and Energy Transition

In The Midst Of Energy Transition, Ultrapar Sells Oxiteno, After Selling Extrafarma And ConectCar, To Focus Its Investments In Renewable Energy And Prepare For The Energy Transition

Read Also

Ultrapar Sells Oxiteno, Extrafarma, And ConectCar

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Ultrapar’s CFO And Relations Director Speaks Out

Oxiteno’s Debt Will Remain With The Sale

Where there was only sand and wind at 40 degrees, China built a megacity of 500,000 inhabitants with farms, wineries, and universities in the middle of the desert using melted glacier water from hundreds of kilometers away.

At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

What seemed like waste has turned into a barrier, and now human hair collected from salons helps retain debris in the water of ancestral channels in Latin America.

Health issues urgent alert for flu and calls for the vaccination of the elderly, children, and pregnant women this Saturday with Day D and drive-thru in Curitiba.

The radio has been in more than half of Brazilian households for decades, and in 2024, for the first time in history, the number of households without a device surpassed those with a device, with a decrease of 2.3 million in just one year.

China banned the export of 22 tons of meat from Argentina.

USA and China compete for Brazil over resources that could be worth trillions — rare earths put the country at the center of a global dispute

Motorola launched the Signature with a gold seal from DxOMark, tying with the iPhone 17 Pro in camera performance, Snapdragon 8 Gen 5 that surpassed 3 million in benchmarks, and a zoom that impresses even at night.

Satellites reveal beneath the Sahara a giant river buried for thousands of kilometers: study shows that the largest hot desert on the planet was once traversed by a river system comparable to the largest on Earth.

The government requests the Federal Revenue Service for a new system to automate the income tax declaration, reducing errors, time, and bureaucracy for millions of Brazilians.

With 74% of companies facing difficulties in hiring, technicians and engineers in renewable energy are becoming scarce in Brazil and are essential to support the expansion of solar, wind, and green hydrogen projects.

Ultrapar Sells Oxiteno to Focus on Renewable Energy Investments and Energy Transition

In The Midst Of Energy Transition, Ultrapar Sells Oxiteno, After Selling Extrafarma And ConectCar, To Focus Its Investments In Renewable Energy And Prepare For The Energy Transition

Read Also

Ultrapar Sells Oxiteno, Extrafarma, And ConectCar

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Ultrapar’s CFO And Relations Director Speaks Out

Oxiteno’s Debt Will Remain With The Sale

Where there was only sand and wind at 40 degrees, China built a megacity of 500,000 inhabitants with farms, wineries, and universities in the middle of the desert using melted glacier water from hundreds of kilometers away.

At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

What seemed like waste has turned into a barrier, and now human hair collected from salons helps retain debris in the water of ancestral channels in Latin America.

Health issues urgent alert for flu and calls for the vaccination of the elderly, children, and pregnant women this Saturday with Day D and drive-thru in Curitiba.

The radio has been in more than half of Brazilian households for decades, and in 2024, for the first time in history, the number of households without a device surpassed those with a device, with a decrease of 2.3 million in just one year.

China banned the export of 22 tons of meat from Argentina.

The Brazilian state accelerates industrial competitiveness with a focus on the extraction of strategic minerals to boost the energy transition in Goiás.

A Canadian retiree creates a hydroelectric system on a real river, generating energy continuously throughout the day and demonstrating how the power of water can supply a house with stability even in a simple structure.

Petrobras reaffirms its commitment to the market and ensures that it will carry out the energy transition safely to maintain national sovereignty.

Researchers discover a possible hydrogen deposit of up to 46 million tons beneath an ancient coal basin, and the volume could exceed half of the entire global production.

China bets on the Fishery-PV model and transforms fish farms into giant solar plants, covering ponds with panels that generate energy while utilizing the same space for large-scale aquaculture production.

USA and China compete for Brazil over resources that could be worth trillions — rare earths put the country at the center of a global dispute

Motorola launched the Signature with a gold seal from DxOMark, tying with the iPhone 17 Pro in camera performance, Snapdragon 8 Gen 5 that surpassed 3 million in benchmarks, and a zoom that impresses even at night.

Satellites reveal beneath the Sahara a giant river buried for thousands of kilometers: study shows that the largest hot desert on the planet was once traversed by a river system comparable to the largest on Earth.

The government requests the Federal Revenue Service for a new system to automate the income tax declaration, reducing errors, time, and bureaucracy for millions of Brazilians.

With 74% of companies facing difficulties in hiring, technicians and engineers in renewable energy are becoming scarce in Brazil and are essential to support the expansion of solar, wind, and green hydrogen projects.