CADE attaches conditions to Liquigás sale

CADE attaches conditions to Liquigás sale

Corporate & Sovereign Strategy Equity M&A Energy Gas Economy & Policy Brazil Latin America

Brazil's antitrust agency CADE said Wednesday that it attached conditions to the sale of Petrobras' liquefied petroleum gas (LPG) subsidiary, Liquigás, to maintain competition in the market. A group led by Itaúsa presented a winning bid for BRL3.7 billion ($690 million) to buy Liquigás in November last year. Itaúsa, a holding company based in São Paulo, partnered with the local LPG companies Copagaz, Nacional Gás and Fogás to present the offer. In approving the sale, CADE ordered Itaúsa and its

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