ALPEK, S.A.B. de C.V. (BMV:ALPEK A), Indorama Ventures Holdings LP and Far Eastern Investment Limited entered into asset purchase agreement to acquire Corpus Christi Project, certain intellectual property and a desalination/boiler plant from M&G USA Corporation for $1.1 billion.
March 20, 2018
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ALPEK, S.A.B. de C.V. (BMV:ALPEK A), Indorama Ventures Holdings LP and Far Eastern Investment (Holding) Limited entered into asset purchase agreement to acquire Corpus Christi Project, certain intellectual property and a desalination/boiler plant from M&G USA Corporation for $1.1 billion on March 21, 2018. The closing of the transaction is subject to conditions precedent including approval by the bankruptcy court and applicable governmental authorities. As of December 21, 2018, United States Federal Trade Commission has granted regulatory approval. As of March 2018, the court approved the sale of the Corpus Christi assets. As of February 26, 2019, US Federal Trade Commission approved the final order settling charges.
PJT Partners Inc. (NYSE:PJT) is serving as financial advisor and Jon-Paul Bernard of Weil, Gotshal & Manges LLP is serving as legal advisor to Alpek. HSBC is serving as financial advisor and Lowenstein Sandler LLP is serving as legal advisor to Indorama. Morgan Stanley is serving as financial advisor and Duane Morris LLP is serving as legal advisor to Far Eastern. Carl Black, Michael J. Cohen, Jeff Symons and Ann Bomberger of Jones Day acted as legal counsel to M&G USA Corp.
Alpek SAB de CV is a Mexico-based company engaged in the chemicals sector. The Company's activities are divided into two business segments: Polyester and Plastics & Chemicals. The Polyester division focuses on the manufacture and distribution of purified terephthalic acid (PTA), polyethylene terephthalate (PET) and polyester fiber. The Plastics & Chemicals division is responsible for the production of polypropylene (PP), expandable polystyrene (EPS), caprolactam (CPL), ammonium sulfate, as well as specialty and industrial chemicals, such as surfactants, ethoxilates, glycoethers and desemulsionates. The Company's products are used in a range of industries, including consumer goods, food and beverages, automotive, construction, agriculture, oil and gas, as well as pharmaceuticals. It operates a number of production plants in the Americas. The Company is controlled by Alfa SAB de CV.
ALPEK, S.A.B. de C.V. (BMV: ALPEK A), Indorama Ventures Holdings LP and Far Eastern Investment Limited entered into asset purchase agreement to acquire Corpus Christi Project, certain intellectual property and a desalination/boiler plant from M&G USA Corporation for $1.1 billion.
ALPEK, S.A.B. DE C.V. 
