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Brazil's Petrobras sells petchem firms to Mexico's Alpek for US$385 million

28/12/2016
16:47
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The deal was one of five authorized by Brazil's audit court.

Brazil's state-run oil company Petroleo Brasileiro SA (PETR4.SA) said on Wednesday its board approved the sale of two petrochemical companies, Petroquimica Suape and Citepe, to Mexico's Alpek SAB de CV for US$385 million.

In a securities filing, Petrobras, as the company is known, said the acquirers were Alpek's subsidiaries Grupo Petrotemex SA de CV and Dak Americas Exterior SL. The deal was one of five authorized by Brazil's audit court, which asked Petrobras to temporarily suspend its asset sale program on December 7.

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