Advent, Indorama and Stepan vye for Brazil's Ultrapar chemical unit

Stepan

01/06/2021 12:32

SAO PAULO, June 1 (Reuters) - Private equity firm Advent
International, U.S. chemical company Stepan Co  SCL.N  and
Thailand's Indorama Ventures are vying for Brazilian
conglomerate Ultrapar Participacoes SA's  UGPA3.SA  chemical
unit Oxiteno, Brazilian newspaper O Estado de S. Paulo reported
on Tuesday.
    The divestiture may fetch around $1.5 billion and is
expected to be completed by late June, the paper reported,
citing people close to the transaction. Binding offers were
delivered last week, the paper said.
    Oxiteno has 11 plants in Brazil, Mexico, Uruguay and the
U.S.
    Ultrapar, Stepan, Advent and Indorama did not immediately
reply to a request for comment.

 (Reporting by Tatiana Bautzer
Editing by Chizu Nomiyama)
 ((tatiana.bautzer@tr.com; Tel: +55-11-5644-7756; Mob:
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