Other articles
13 Feb 2018, Paulo Dias, EMIS Editor

Brazil: Regulator approves acquisitions of Petroquimica Suape and Citepe

Cade, the administrative council for Economic Defense, approved the acquisition of the petrochemical businesses Petroquimica Suape and Citepe – owned by Petrobras - by Mexican chemical manufacturing company Alpek SAB de CV.

The deal, now approved by the watchdog council, was made on December 2016 and involved a sum of around BRL 1.2bn. Cade´s OK has a condition in which obliges Alpek to maintain competitive environment on the Brazilian market.

SeeNews Energy has learned that the sale of these two state-owned businesses still has to articulate some closing conditions. Nevertheless, the official go ahead was given by the market regulator.

Sign in and read the full article in emis.com Original source: SeeNews Energy