Mexico-based Alpek, a chemical manufacturing subsidiary of petrochemicals to aluminum auto components manufacturer Alfa S.A.B. de C.V., has agreed to divest two cogeneration energy plants in Cosoleacaque, Veracruz and Altamira, Tamaulipas.

Alpek will divest the energy plants to UK power generation company ContourGlobal’s subsidiary for $801 million.

Alpek said that the deal is consistent with its strategy to create value for its shareholders and cut its financial leverage.

The divestment, which is subject to regulatory approval, is expected to close during the first half of 2019.