CVM Boosts Ultrapar's Ipiranga Offers

CVM Boosts Ultrapar's Ipiranga Offers

Bonds Corporate & Sovereign Strategy

Brazil's Comissão de Valores Mobiliários has moved to increase the price Ultrapar Participações will offer for Petroleo Ipiranga shares it doesn't own by 10.9% to BRL64.43 per share. The decision, subject to the approval of the CVM's board, was taken in response to minority shareholders' plea that there was a double discount on the CBPI valuation calculation, preventing them from accessing part of the premium paid to the controlling shareholders. The CVM also confirmed the registration for the p

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