September 13, 2019 |
Mexico's Alpek is expected to pocket at least $450m from the sale of two cogeneration power plants, analysts from the local bank Banorte said in a report.
The sale is expected to close in the next few days, more than eight months after ContourGlobal said in January that it would buy the plants for $801m. The two companies entered negotiations in November 2017, but took more than a year to reach an agreement.
Alpek's earnings from the sale are "unreflected" in Banorte's current valuation of the
Mexican petchem company is expected to pocket $450m for two cogeneration plants