Closing of Sale of PetroquímicaSuape and Citepe

Source Press Release
Company Petrobras (IFRS US$ Current)ALFA, S.A.B. de C.VAlpek S.A.B. de C.V 
Tags Corporate Deals, Deals, Chemicals Activities
Date April 30, 2018

Petrobras, in continuity to the Material Fact disclosed on 12/28/2016 and 03/27/2017 and press release dated 02/07/2018, informs that today it completed the sale of 100% of the shares held in Companhia Petroquímica de Pernambuco (“PetroquímicaSuape”) and Companhia Integrada Têxtil de Pernambuco (“Citepe”) to Grupo Petrotemex S.A. de C.V. and Dak Americas Exterior, S.L., subsidiaries of Alpek, S.A.B. de C.V. (“Alpek”).

The transaction was completed with the payment today of R$ 1.523 billion (US$ 435 million)  to Petrobras, after adjustments and the fulfillment of all conditions precedent established in the purchase and sale agreement, including the restructuring of the long-term debt of both companies and approval of the Court of the Administrative Council for Economic Defense (CADE).

The transaction is part of Petrobras’ Partnerships and Divestments Program, in line with the 2018-2022 Business and Management Plan, which provides for the optimization of the company’s portfolio, with full divestments in the petrochemical industry.

The present disclosure to the market is pursuant to Petrobras' Divestment Program, which is aligned with the special regime for assets divestment by federal mixed-capital companies, provided for in Decree 9.188/2017.

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