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Chemical Week Magazine :: Business & Finance :: United States/Americas

Petrobras sells Innova and other assets for $2.1 billion

7:16 AM MDT | August 23, 2013 | —Natasha Alperowicz

Petrobras says that its board, on 16 August, approved plans to sell $2.1 billion worth of assets, including Petroquímica Innova (Innova) to plastic packaging and styrene producer Videolar (São Paulo) as part of a previously announced divestment plan. The asset sale includes other upstream assets. Petrobras says it is raising approximately 870 million reais ($372 million) from the sale of Innova, including the assumption of debt of some R$23 million. Innova, located at Triunfo, produces ethylbenzene (EB), styrene, and polystyrene (PS). The company...

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