Thailand’s Indorama Ventures (IVL) has completed its acquisition of 100% of Brazil-based Oxiteno from Ultrapar Participações, following approval by Brazil’s Administrative Council for Economic Defence. IVL said that the deal, first announced in August 2021, makes it “the leading surfactants producer in the Americas, with additional potential to expand in Europe and Asia”.

Indorama Ventures has acquired Brazilian firm Oxiteno from the Ultra Group in a $1.3 billion that should close in Q1 2022, subject to regulatory approvals and other closing conditions. This will bring a significantly extended business in high-value surfactants within the Integrated Oxides & Derivatives (IOD) business, as well as other speciality chemicals.