Alpek negotiating final agreements to acquire ContourGlobal assets

Leading petrochemical company Alpek together with ContourGlobal, an international power generation company, have entered into a 60-day exclusivity period to negotiate final agreements related to ContourGlobal's potential acquisition of Alpek's cogeneration power plants in Mexico.

According to a statement released by ContourGlobal on Tuesday, the two companies would reveal the economic terms of the potential transaction upon signing the final agreements.

Transaction close was subject to approval by the relevant authorities.