Petrobras receives approval for takeover of Ipiranga downstream assets
The council acknowledged unanimously that competitiveness has been preserved in the markets involved in the operation. However, it conditioned the approval to Petrobras's signing a term of performance commitment (TPC) with the Administrative Council for Economic Defense (Cade). In the TPC, Petrobras committed to transfer the ideal fraction acquired in the federal district's distribution base; assign to possible interested parties part of the capacity of the Campo Grande and Alto Taquari fuel distribution bases, in the states of Mato Grosso do Sul and Mato Grosso; allow Ipiranga flag retail service stations in 21 municipalities to terminate their fuel supply agreements in advance; and maintain non-discriminatory treatment in the provision of basic asphalt production inputs including petroleum asphalt cement and diluted petroleum asphalt. With the decision, the Cade completed the approval of the widest-ranging operation involved in the acquisition of all of Ipiranga Group's business by Petrobras, Ultrapar Participacoes and Braskem carried out in March 2007.