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Mexico's Alpek gets extension for talks over Petrobras units purchase
September 27, 2016 / 9:07 PM / a year ago

Mexico's Alpek gets extension for talks over Petrobras units purchase

MEXICO CITY (Reuters) - Mexican company Alpek said on Tuesday it had received a 30-day extension for exclusive talks to purchase petrochemical units of Brazilian state oil firm Petrobras (PETR4.SA).

The logo of Brazil's state-run Petrobras oil company is seen on a tank in Cubatao, Brazil, April12, 2016. REUTERS/Paulo Whitaker

Petrobras in July announced it was in talks with the Mexican group (ALPEKA.MX) over the sale of the units, Petroquímica Suape and Citepe. A source with knowledge of the matter said Alpek is expected to offer up to $700 million for the units.

Alpek is the petrochemicals unit of Mexican conglomerate Alfa.

Reporting by Adriana Barrera

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