Brazil begins binding phase in effort to sell stake in LAB producer Deten
Adam Yanelli
17-Sep-2021
HOUSTON (ICIS)–Petrobras has begun the binding phase of its effort to sell its 27.88% stake in Deten Quimica, a Brazilian producer of linear alkyl benzene (LAB), according to the state-controlled energy producer.
Petrobras began seeking bidders for Deten, Brazil’s sole producer of LAB, in June.
Potential buyers who qualified for this phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and the submission of binding proposals, Petrobras said.
Deten’s remaining 72.12% stake is owned by Cepsa.
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