# Alpek signs agreement to acquire Petroquímica Suape and Citepe from Petrobras for $385 million

Alpek signed a share purchase agreement with Petrobras to acquire 100% of Petroquímica Suape and Citepe for $385 million. The facilities in Ipojuca, Brazil, have capacities of 700,000 tons/year PTA, 450,000 tons/year PET, and 90,000 tons/year texturized polyester filament. Closing is subject to approvals.

- Type: Acquisition
- Announced: 2016-12-28
- Where: Ipojuca, Pernambuco, Brazil, Brazil
- Value: $385.0M
- Status: announced
- Capacity: 700,000 tons/year PTA, 450,000 tons/year PET, 90,000 tons/year texturized polyester filament
- Products: PTA, PET, texturized polyester filament
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md), [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Petrobras](https://endata.com/companies/2820.md) (partner)
- [Petrobras](https://endata.com/companies/2820.md) (target)
- [Alpek](https://endata.com/companies/4456.md) (acquirer)
- [Petroquímica Suape](https://endata.com/companies/19548.md) (target)
- [Citepe](https://endata.com/companies/19549.md) (target)

## Sources

- [alpek.com](https://www.alpek.com/alpek-signed-an-agreement-with-petrobras-for-the-acquisition-of-petroquimica-suape-and-citepe-2/), 2016-12-28: "Alpek announced today that it signed a share purchase agreement with Petróleo Brasileiro S.A. for the acquisition of its 100% stake in Companhia Petroquímica de Pernambuco and Companhia Integrada Têxtil de Pernambuco."
- [doi.org](https://doi.org/10.1021/cen-09502-buscon001), 2017-01-09: "The Brazilian state oil company Petrobras has agreed to sell Petroquimica Suape, an integrated polyester complex in the Brazilian state of Pernambuco, to Mexico’s Alpek for $385 million."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.