Mexichem Agrees to Buy Pemex's Petroquimica Mexicana de Vinilo Stake



Reuters

MEXICO CITY, July 6 (Reuters) - Mexican chemicals and plastic pipe maker Mexichem said on Friday it had agreed to buy state oil firm Pemex's stake in chemical manufacturer Petroquimica Mexicana de Vinilo.

Mexichem said it would pay roughly $178.7 million for Pemex's 44.09 percent stake in the company, while Pemex separately said that the sale would help it consolidate its finances. (Reporting by Daina Beth Solomon)



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.