Brazil's Ultrapar taps BTG for possible Ipiranga stake sale, Chevron interest reported

Group 1 - Brazilian conglomerate Ultrapar has engaged investment bank BTG Pactual to manage the potential sale of a stake in fuel distributor Ipiranga [1] - Chevron is reportedly in advanced talks to acquire a 30% stake in Ipiranga, although it remains unconfirmed if Chevron is among the potential buyers [1] - Ultrapar aims to reduce its exposure to fuel distribution and plans to reallocate capital towards the logistics sector while maintaining operational control of Ipiranga [1] Group 2 - The existing relationship between Chevron and Ipiranga, which includes a joint venture in the lubricants business, makes discussions about ownership a natural progression [1] - Ultrapar may be exploring options with multiple potential buyers for the stake in Ipiranga [1]