Empreendimentos Pague Menos S.A. entered into share purchase agreement to acquire Imifarma Produtos Farmacêuticos e Cosméticos S.A. from Ipiranga Produtos de Petróleo S.A. for BRL 700 million.
Preemptive rights will be granted to Ultrapar's shareholders who wish to acquire Extrafarma's shares, proportionally to their respective participation in Ultrapar's share capital and for the same price per share to be paid by Pague Menos, pursuant to article 253 of the Brazilian Corporate Law. The shareholders of Ultrapar that exercise such right will become direct shareholders of Extrafarma. The completion of this transaction is subject to usual conditions precedent in such deals, including approval by the Brazilian antitrust authority and by the general shareholders' meeting of Pague Menos, pursuant to the terms of article 256 of the Brazilian Corporate Law, to be called by the purchasing company in due course, and as already ratified by its controlling shareholder. The transaction has been approved by the Board of Directors of Ipiranga Produtos. As of May 9, 2022 CADE has approved the deal. Bradesco BBI acted as the financial advisor and Mattos Filho acted as legal advisor for Ultrapar. Lefosse Advogados acted as legal advisor for Pague Menos. McKinsey acted as the advisor for both Ultrapar and Pague Menos.