Brazil: Regulator approves acquisitions of Petroquimica Suape and Citepe 02/13/2018 | By Paulo Dias, EMIS Editor

These Petrobras units were acquired by Mexican Alpek for BRL 1.2bn

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.

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Original source: SeeNews Energy
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