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Mexichem acquires Pemex share in Petroquímica Mexicana de Vinilo

By Mary Page Bailey |

Mexichem S.A.B. de C.V. (Tlalnepantla, Mexico; www.mexichem.com) announced that, aligned with its strategy of consolidation in its core businesses, it has reached an agreement for the acquisition of Pemex’s 44.09% share in Petroquímica Mexicana de Vinilo, S.A. de C.V. (PMV) through its subsidiary PPQ Cadena Productiva, SL, after the approval of the Boards of Directors of Pemex and Mexichem.

The acquisition amounts to approximately $178.7 million, which is within the valuation ranges of comparable business and previous transactions in the petrochemical sector. The acquisition occurs as PMV is refocusing its value chain on salt/chlorine/caustic soda, motivating Mexichem’s interest in increasing its stake in the group.

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