Report: Firms compete to acquire Petrobras styrenics unit

Four companies are in competition to acquire Innova, the Brazilian styrenics firm owned by Petrobras, according to Valor Económico, a leading financial newspaper in Brazil. Innova is valued at about $400 million and produces styrene, polystyrene, ethylbenzene and synthetic rubber, among other products. Companies interested in the asset include Unigel, a direct competitor with Innova, Vedeolar, and Parisotto, the report says. Elekeiroz, a joint venture between France’s Total and Styrolution, is also said to have an interest in Innova, the report...

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