Ultrapar Expands in Uruguay

Ultrapar Participacoes has agreed to acquire Uruguayan specialty chemicals maker American Chemical in a deal valued at $79m, subject to closing and related conditions, it says. Ultrapar subsidiary Oxiteno will use the asset, which includes American’s Montevideo plant, to become a stronger regional player in specialty chemicals and surfactants. An internal M&A team handled the deal for Ultrapar, which is funding the purchase with its own resources. The deal follows a BRL160m ($81m) agreement to acquire the Temmar port terminal in Brazil from Noble Group.