San Pedro Garza Garcia, Nuevo Leon, Mexico. January 6, 2019
Alpek, S.A.B. de C.V. (“Alpek”) announced today that it has signed a final agreement for the sale of its Cosoleacaque and Altamira cogeneration power plants, located in Mexico. Under the terms of the agreement, Alpek will sell its entire stake in the companies that own both facilities; Cogeneración de Altamira, S.A. de C.V. and Cogeneración de Energía Limpia de Cosoleacaque, S.A. de C.V., for an aggregate amount of U.S. $801 million to ContourGlobal Terra 3 S.à.r.l, a subsidiary of ContourGlobal PLC.
In accordance with the purchase agreement, the price will be subject to certain adjustments and is due on the closing date, which is expected during the first half of 2019.
The transaction is subject to customary closing terms and conditions, including corporate approvals and authorization by the Comision Federal de Competencia Economica in Mexico.
As required by the applicable laws and regulations, Alpek prepared an information memorandum for this transaction, which is available at www.alpek.com or at the Mexican Stock Exchange’s website www.bmv.com.mx