BEST DOMESTIC M&A TRANSACTION
Braskem’s 2010 acquisition of Quattor Participacoes, Polibutenos and Unipar Comercial forges a new petrochemical giant in the Brazilian petrochemicals market.
It is now the largest
resin producer in the Americas, according to Credit Suisse,
which was not on the transaction.
The deal involved the creation of a new company, BRK Holding,
and the realignment of several business units. Prior to the
merger, Braskems main shareholders had included
Petrobras, with a 25.3% stake and Odebrecht, with 38.3%. They
surrendered direct stakes in Braskem to BRK, in which they both
now participate, with Petrobras with 46.2% and Odebrecht 53.8%.
Odebrecht injected 1.0 billion reais into the new entity,
while Petrobras put in 2.5 billion reais. This was then
followed by an additional 5.0 billion reais private
subscription by Braskem. The latter subsequently acquired
Unipars 60% stake in Quattor for 647.3 million reais in
cash, 33.3% of Polibutenos and all of Unipar Comercial for 52.7
million reais. Petrobrasexisting 40% stake in Quattor was
then merged into...
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