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Petrobras Acquires 100% Interest of Innova

Source: www.gulfoilandgas.com 4/1/2011, Location: South America

Petroleo Brasileiro S.A - Petrobras, announces the acquisition of 100% of the capital of Innova S.A., in the amount of US$ 332 million, from Petrobras Energia Internacional S.A. – PEISA, a wholly owned subsidiary of Petrobras Argentina SA.

The acquisition allows Petrobras to invest at Innova aiming to align its assets to Petrobras' business plan. On the other hand, Petrobras Argentina will concentrate its business in Argentina.

Innova is located in the Petrochemical Complex of Triunfo-RS (Brasil), produces styrene, polystyrene, and ethylbenzene, raw materials for synthetic rubber, acrylic and polyester resins used for disposables, paper, tires, paints and packages, among others.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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