23 de diciembre de 2016 / 21:39 / en 8 meses

Brazil's Ultrapar to invest $659 mln in 2017

BRASILIA, Dec 23 (Reuters) - Ultrapar Participações SA , a large player in energy and infrastructure in Brazil, plans to invest 2.17 billion reais ($659 million) in 2017 to increase output and modernize its operations, the company said in a filing on Friday.

More than half of that investment, or 1.1 billion reais, will go to its fuel distribution unit Ipiranga, the country's second largest.

In November, Ultrapar bought Petrobras' liquefied petroleum gas unit, Liquigás Distribuidora SA, for 2.8 billion reais in an effort expand its margin. (Reporting by Alonso Soto; Editing by Sandra Maler)

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