EconomyFinancialMexicana Alpek announces purchase of Octal Holding for 620...

Mexicana Alpek announces purchase of Octal Holding for 620 million dollars

The Mexican petrochemical company Alpek announced on Tuesday that it had agreed to acquire 100% of the shares of Octal Holding, a major global PET sheet producer, for 620 million dollars, in an operation that it expects to complete in the first half of the year.

The unit of the Alfa conglomerate said in a statement to the stock market that the amount of the purchase is free of debt and that the financing for the acquisition will be covered through available cash, the flow of its existing businesses and bank loans, but did not give details.

Alpek said the deal would have an immediate material impact on cash flow estimated at $135 million before synergies, based on Octal's cash flow for the last twelve months as of September 30, 2021.

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