Petrobras sells Petrochemical Cuyo stake for $32m

04 January 2008 12:18  [Source: ICIS news]

LONDON (ICIS news)--Petrobras Energy has finalised the sale of its 40% share in Petrochemical Cuyo to Admire Trading Company and Grupo Investor Petrochemical for $32m, the Brazilian company announced late on Thursday.

  

Prior to the sale of the shares Petrobras was the second biggest shareholder - Sieleki Group held a 50.5% stake and other shareholders held 9.5% of the company’s stock.

 

Cuyo Petrochemical produces and sells polypropylene, homopolymers, impact copolymers and random and composite copolymers.

 

Peter Salisbury contributed to this story

By: Lucy Craymer
+44 20 8652 3214

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