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Petrotemex-Petrobras deal to face in-depth review in Brazil

( October 10, 2017, 20:50 GMT | Official Statement) -- MLex Summary: Petrochemical company Petrotemex's plan to acquire Petróleo Brasileiro-owned Companhia Petroquímica de Pernambuco and Companhia Integrada Têxtil de Pernambuco will face an in-depth review by the Brazilian antitrust agency, according to a statement disclosed today in the case file. Officials with the Administrative Council for Economic Defense, or CADE, declared the deal "complex" and asked CADE's economics department to analyze how competition will be affected by the transaction. They also asked Petrotemex and Petrobras to inform how their deal will benefit consumers. The decision will be published in the country's Official Journal.Statement follows in full (in Portuguese). See additional document below....

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