Ultrapar (UGPA3) acquires relevant stake in Hidrovias (HBSA3)

Posted at 8:40 p.m

Ultrapar Participações (UGPA3) informed on the night of Sunday, the 24th of this month, that it had signed an agreement with Pátria HBSA CoInvestimento – Fundo de Investimentos em Participações Multiestratégia, through its subsidiary; Investment Fund Pátria Infraestrutura Brasil Multiestrategia Participações; Pátria Infraestrutura Fundo de Investimento em Participações Multiestratégia and Somerville Investments BV to acquire 128,369,488 shares in Hidrovias do Brasil (HBSA3)which represents 16.88% of its capital, compared to 3.98 Brazilian reals per share.

Ultrapar also informed that it currently owns shares representing 4.99% of the share capital of Hidrovias, which, when added to the transaction shares, will amount to a total share of 21.87% of the share capital.

Ultrapar disclosed that it is also a party to financial settlement derivative operations referred to in Hidrovias shares equivalent to 4.99% of its share capital.

“Hidrovias operates in a high-growth sector, taking into account the lack of logistics infrastructure and the growing expansion of agribusiness, with complementary and synergistic operations to the Ultrapar portfolio. The acquisition of a stake in Hidrovias is in line with Ultrapar's strategy to expand its presence in sectors exposed to Brazilian agribusiness , especially in the Midwest and North regions, and invest in companies to which they can contribute strategic, operational, administrative and financial knowledge,” Ultrapar explained.

The company confirmed that it intends to be a strategic and long-term reference shareholder in Hidrovias, supporting its growth, governance and management model.

The closing of the transaction is subject to the approval of the Administrative Council for Economic Defense (Cade) and the non-application of the obligation to carry out a public offering due to the relevant increased participation (poison pill) by Hidrovias.

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