Chevron in Advanced Negotiations to Buy 30% Stake in Ipiranga

Key Takeaways Chevron is in advanced talks to buy a 30% stake in Ultrapar's Ipiranga fuel distribution unit.The move builds on their ICONIC venture and targets Brazil's growing fuel demand and market potential.Ultrapar seeks to free capital while retaining control as Ipiranga's EBITDA share declines.Chevron Corporation (CVX) , a leading global energy company with operations spanning upstream exploration and production to downstream refining and marketing, is reportedly in advanced talks with Brazil’s Ultrap ...