Ultrapar remains an exemplary firm in the realm of corporate
governance and transparency. Its acquisition of Extrafarma last
year is an interesting case in point, receiving almost
unanimous approval from shareholders representing 75% of the
company's capital, at a time when minority investors are
increasingly objecting to M&A transactions in Brazil.
Best corporate for shareholder transparency
Ultrapar’s merger with Extrafarma last year showed it is still exceptionally good at communicating with investors
Speaking to LatinFinance in June, Ultrapar's chief financial
officer and head of investor relations, André Covre,
says Extrafarma afforded Ultrapar an entry into pharmacies, a
rapidly growing and consolidating market. The ability to
piggyback on Ultrapar's fuel retail outlets was going to
further help Extrafarma to grow as a business, says Covre.
But making sure it was the right transaction for the
company, and on the right terms, was the first step...
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