Alpek banks on power plant sale

Alpek banks on power plant sale

M&A Energy Gas Electricity Mexico Europe

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

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial