Alpek’s acquisition of Suape, Citepe approved by Petrobras
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Mexican petrochemical company Alpek has obtained the necessary approval from Petrobras on March 27 to acquire 100% of Petroquimica Suape and Citepe. The acquisition will be worth $385 million.
The transaction will be completed once the approval from the Administrative Council for Economic Defense (CADE) is obtained.
The talks between Petrobras and Alpek about the sales of these petrochemical units had started in August 2016 and the two companies had come to an agreement on the acquisition of two units. Later on, it was announced that the sale was suspended by the order of a judge.
The subsidiaries to be sold have a combined production capacity of 700,000 tons/year of PTA and 450,000 tons/year of PET.
The transaction will be completed once the approval from the Administrative Council for Economic Defense (CADE) is obtained.
The talks between Petrobras and Alpek about the sales of these petrochemical units had started in August 2016 and the two companies had come to an agreement on the acquisition of two units. Later on, it was announced that the sale was suspended by the order of a judge.
The subsidiaries to be sold have a combined production capacity of 700,000 tons/year of PTA and 450,000 tons/year of PET.
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