Sinopec enters into alliance with Brazilian energy giant

    October 13, 2010 | BY

    clpstaff &clp articles

    Brazil-based Repsol and China's China Petroleum & Chemical Corporation (Sinopec) have entered into an agreement that will create one of Latin America's…

    Brazil-based Repsol and China's China Petroleum & Chemical Corporation (Sinopec) have entered into an agreement that will create one of Latin America's largest energy companies. Sinopec will pay US$7.1 billion for a 40% stake in Repsol Brasil, the upstream subsidiary of Repsol. Sinopec and Repsol will jointly develop the projects of Repsol Brasil, worth to be about US$17.77 billion.

    Advising Repsol in its strategic partnership with Sinopec is a Latham & Watkins team led by Spain-based partners José Luis Blanco and Ignacio Pallarés.

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