Alpek’s acquisition of Suape, Citepe approved by Petrobras
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.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PS, ABS markets take respite from rising streak in China, SEA
- Muted demand in Europe paves way for plenty of PP, PE offers in Turkey
- Import PE uptrend persists in China despite bearish winds mounting in local market
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers