April 24, 2023 [TheDigest] – In Brazil, Ultrapar Participações S.A. signed an agreement for the acquisition of a 50% stake in Opla Logística Avançada (“Opla”), held by Copersucar S.A. (“Copersucar”), through its subsidiary Ultracargo Logística S.A. (“Ultracargo”).
The value of the transaction is R$237.5 million, subject to customary working capital and net debt adjustments.
Opla, which was founded in 2017, is the largest independent terminal of ethanol in Brazil. Located in Paulínia (state of São Paulo), it has an installed tank capacity of 180 thousand m3 and offers integrated storage and logistics solutions through railways, pipelines and road transportation. It is jointly controlled by BP Biofuels Brazil Investments Ltd. (“BP”) and Copersucar, both with 50% stake. With the approval of the acquisition, Ultracargo and BP will be co-controllers of Opla.
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