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Oxiteno's acquisition of American Chemicals approved by Brazil's antitrust authority

8:44 AM MST | November 21, 2013 | Francinia Protti-Alvarez

Oxiteno, a subsidiary of Ultrapar (São Paulo), has received approval from Brazil's antitrust authority CADE (Brasilia) to acquire American Chemical (Montevideo), CADE announced.  Oxiteno agreed to acquire American Chemical in May 2012 for $79 million. American Chemical has an 80,000-m.t./year plant at Montevideo that produces specialty chemicals. The acquisition will significantly increase Oxiteno's sodium lauryl ether sulfate (SLES) market share, but there are other SLES producers in the Mercosur economic bloc, CADE says. The chemical is used in the...

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