Canada's Couche-Tard is in talks to buy a stake in Ipiranga, Brazil's second-largest fuel retailer, joining a bidding contest Ultrapar opened this year.
Key Facts
—The bidder. Canada’s Alimentation Couche-Tard is in talks with Grupo Ultra to buy a stake in the fuel retailer Ipiranga.
—The asset. Ipiranga is Brazil’s second-largest fuel distributor, with more than six thousand service stations.
—The scale. The business generates more than one hundred and forty billion reais a year in revenue.
—The process. Owner Ultrapar hired the bank BTG Pactual to lead a sale and has drawn several global suitors.
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