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Ipiranga, Chevron to form automotive-lubricants joint venture

( August 4, 2016, 20:35 GMT | Official Statement) -- MLex Summary: Brazilian fuel company Ipiranga and American energy giant Chevron today announced plans to create a company that will operate in the automotive lubricants market. Ipiranga will hold 56 percent of the joint venture while Chevron will hold 44 percent. Both companies already operate in the Brazilian lubricants market. The transaction is subject to approval from the country’s competition agency. Chevron is listed on the New York Stock Exchange.Statement follows in Portuguese....

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