Alfa de CV : Alpek Joint Venture, CC Polymers, obtained all regulatory clearances to acquire the Corpus Christi Project

December 21, 2018
Alpek Joint Venture, CC Polymers, obtained all regulatory clearances to acquire the Corpus Christi Project

San Pedro Garza García, N.L. Mexico. December 21, 2018 - ALFA, S.A.B. de C.V. (ALFA), revealed that its subsidiary Alpek, S.A.B. de C.V. ('Alpek') announced today that Corpus Christi Polymers LLC ('CC Polymers'), a joint venture among certain subsidiaries of Alpek, Indorama Ventures Holding ('Indorama'), and Far Eastern Investment (Holding) Limited ('Far Eastern'), received regulatory clearance from the United States Federal Trade Commission ('FTC') in connection with its proposed acquisition of the Corpus Christi Project from M&G USA Corp. and its affiliated debtors ('M&G').

The Corpus Christi Project assets include the integrated PTA-PET plant under construction in Corpus Christi, Texas, certain M&G intellectual property, and a desalination/boiler plant providing water and steam to the site.

As part of the FTC clearance, the FTC issued a decision and order providing for certain obligations regarding the governance and operation of CC Polymers, among other requirements. CC Polymers has obtained all regulatory clearances required to close the acquisition of the Corpus Christi Project, which is expected to occur shortly.

About ALPEK
Alpek is a leading petrochemical company operating two business segments: 'Polyester' (PTA, PET and polyester fibers), and 'Plastics & Chemicals' (polypropylene, expandable polystyrene, caprolactam, and other specialty and industrial chemicals). Alpek is an integrated producer of PTA and PET in North America, the largest expandable polystyrene manufacturer in the Americas, and the only producer of caprolactam in Mexico. Alpek also operates one of the largest polypropylene facilities in North America. In 2017, Alpek reported revenues of U.S. $5.2 billion and EBITDA of U.S. $384 million. The Company operates 23 plants in the United States, Mexico, Canada, Brazil, Argentina and Chile, and employs more than 5,000 people. Alpek is a publicly traded company listed on the Mexican Stock Exchange.

About ALFA
ALFA is a holding company that manages a portfolio of diversified subsidiaries: Sigma, a leading multinational refrigerated food company, focused on the production, marketing and distribution of quality foods through recognized brands in Mexico, Europe, United States and Latin America. Alpek, one of the world's largest producers of polyester (PTA, PET and fibers), and the leader in the Mexican market for polypropylene, expandable polystyrene (EPS) and caprolactam. Nemak, a leading provider of innovative lightweighting solutions for the global automotive industry, specializing in the development and manufacturing of aluminum components for powertrain, structural components and for electric vehicles. Axtel, a provider of Information Technology and Communication services for the enterprise, government and mass market in Mexico. Newpek, an oil and gas exploration and production company with operations in Mexico and the United States. In 2017, ALFA reported revenues of Ps. 317,627 million (US $16.8 billion), and EBITDA of Ps. 38,312 million (US $2.0 billion). ALFA's shares are quoted on the Mexican Stock Exchange and on Latibex, the market for Latin American shares of the Madrid Stock Exchange.

Contact:

Luis Ochoa Reyes
Vice President, Corporate Communications
ALFA, S.A.B. de C.V.
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