Dutch group makes contact for acquisition of Braskem, newspaper says

According to the Wall Street Journal, an offer could evaluate Braskem as worth well over $ 10 billion. Dutch group Lyondellbasell has approached the acquisition of Brazilian petrochemical company Braskem, the Wall Street Journal reported on Monday.

According to the newspaper, an offer could evaluate Braskem, the largest petrochemical company in the Americas, worth well over 10 billion dollars, which made the Brazilian company’s shares skyrocket on B3.

At 15:54, Braskem’s shares were at auction, after rising 11.86 percent. The Ibovespa was down 1.9 percent on schedule. The newspaper, which quoted a source with knowledge of the matter, said that negotiations are in an early stage and that there is no guarantee that an agreement will be reached.

Braskem is currently controlled by Odebrecht, which owns 50.1 percent of the voting shares. Petrobras owns 47 percent of the petrochemicals’ voting capital. Representatives of LyondellBasell and Petrobras could not immediately comment on the matter. Odebrecht did not express itself immediately, and Braskem chose not to comment.

Source: EXAME