November 8, 2019
A group led by Itaúsa has won the bidding for Liquigás Distribuidora, offering to buy the liquefied petroleum gas (LPG) company from Petrobras for BRL3.7 billion ($906 million).
The São Paulo-based holding company partnered with the local LPG companies Copagaz and Nacional Gás to present the offer. Itaúsa will own 49% of Liquigás through its stake in Copagaz, the company said in a securities filing.
The acquisition requires approval from the antitrust agency CADE and will have no effect on Itaús
Itaú's holding company and its partners, Copagaz and Nacional Gás, offer more than $900 mln to buy the LPG business from Petrobras