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Veracruz.- Mexican Chemical Conglomerate Mexichem reported yesterday that he agreed to buy from Pemex 44.09% of the shares he held in the Mexican Petrochemical Vinyl (PVM), for 178.7 million dollars
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The purchase of PMV from the company of 39; State will be through the intermediary of its subsidiary PPQ Cadena Productiva, after the approval of the boards of directors of Pemex and Mexichem.
" The amount of the transaction amounts to approximately $ 178.7 million, value that falls within the comparable company valuation ranges and transactions in the petrochemical sector, "said Mexichem in a statement.
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Payment of about 3 thousand 436 million pesos includes the purchase of shares in Pemex and the reinstatement of its assets, ie land and all facilities in Complex Petrochemical where an explosion occurred in April 2016 .
The two companies indicated that this value is in the ranges of comparable companies and previous transactions in the petrochemical sector.
In September 2013, Pemex and Mexichem teamed up to form the Sal-Chlorine / Sosa-Ethylene-VCM value chain through the PMV company
REFORMA has published that to form this company, the agreement established that Pemex would contribute $ 228 million in assets – including workers – and Mexichem would contribute $ 200 million in capital and $ 90 million in assets.
However the factory Colorados 3, located in the complex Petroquímico of Pajaritos, in Coatzacoalcos Veracruz, recorded an explosion on April 20, 2016, which has killed 32 people and injured hundreds.
Mexichem agreed to purchase from Pemex 44.09% of the shares that she held in the Petroquímica Mexicana de Vinilo company.
- The purchase of PMV from the state company will be through the intermediary of its subsidiary productive chain PPQ
- The payment amounts to about 3 thousand 436 million pesos
- The transaction includes the purchase of shares of Pemex and the reinstatement of its assets.
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