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People & Business :: M&A

Reports: Elekeiroz and Videolar competing to acquire Petrobras's styrene assets

8:58 AM MDT | June 13, 2013 | Francinia Protti-Alvarez

Two companies remain in the race for the acquisition of Innova (São Paulo), the styrene unit of state-owned Petrobras, based at Triunfo, Brazil, according to Valor Econômico, a leading financial newspaper in Brazil. The sale of Innova was announced in December 2012, as reported by CW. The remaining contenders for the acquisition, expected to be worth $400 million, are chemical company Elekeiroz (São Paulo) and plastic packaging and styrene producer Videolar (São Paulo). Elekeiroz currently produces oxo alcohols, as well as...

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