Brazilian Petrobras’s Suape and Citepe sale suspended
The talks between Petrobras and Alpek about the sales of these petrochemical units had started last August. Petrobras was planning to sell the two companies for $385 million in efforts to reduce its debt. Alpek had said they were waiting for government approval for the deal to be completed.
Petrobras’s 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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