ALPEK, S.A.B. DE C.V. Press Release
Alpek signed an agreement with Petrobras for the acquisition of Petroquímica Suape and Citepe
Monterrey, Mexico. December 28, 2016 - Alpek, S.A.B. de C.V. ("Alpek") announced today that it signed a share purchase agreement with Petróleo Brasileiro S.A. ("Petrobras") for the acquisition of its 100% stake in Companhia Petroquímica de Pernambuco ("Petroquímica Suape") and Companhia Integrada Têxtil de Pernambuco ("Citepe").
Petroquimica Suape and Citepe operate an integrated PTA-PET facility in Ipojuca, Pernambuco, Brazil with an installed capacity of 700 and 450 thousand tons per year PTA and PET, respectively. Citepe also operates a 90 thousand tons per year texturized polyester filament plant on site.
The agreed upon price for Petrobras' 100% stake in Petroquimica Suape and Citepe is U.S. $385 million. This amount is payable in Reais at the closing date and is subject to adjustments in working capital and current debt, among others.
The closing of this transaction will require further corporate approvals and is subject to several condition precedents, including approval by the appropriate governmental authorities.
About Alpek:
Alpek is a leading petrochemical company operating two business segments: "Polyester" (PTA, PET and polyester fibers), and "Plastics & Chemicals" (polypropylene, expandable polystyrene, caprolactam, and other specialty and industrial chemicals). Alpek is an integrated producer of PTA and PET in North America, the largest expandable polystyrene manufacturer in the Americas, and the only producer of caprolactam in Mexico. Alpek also operates one of the largest polypropylene facilities in North America. In 2015, Alpek reported revenues of U.S. $5.3 billion and EBITDA of U.S. $630 million. The Company operates 23 plants in the United States, Mexico, Canada, Brazil, Argentina and Chile, and employs more than 5,000 people. Alpek is a publicly traded company listed on the Mexican Stock Exchange.
For further information: Hernán F. Lozano Investor Relations Officer Alpek, S.A.B. de C.V.
+52 (81) 8748-1146
hlozano@alpek.com
ir@alpek.com www.alpek.com
Alpek SAB de CV published this content on 28 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 December 2016 21:22:05 UTC.
Original documenthttp://www.alpek.com/pdf/2016/ingles/Alpek-PQS-Agreement.pdf
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