Braskem says Solvay price “fair” after regulator blocks tender

Braskem says Solvay price “fair” after regulator blocks tender

M&A

Braskem said the price it offered in a tender for the free-float of an Argentine firm was “fair”, and that it was “surprised” by the regulator’s ruling against the acquisition. The Brazilian petrochemical producer agreed in December to buy 70.59% of Solvay Indupa, the Argentine-Brazilian unit of Belgium’s Solvay, directly from the controllers. At the same time, Braskem launched a tender on the Buenos Aires stock exchange for the rest of the plastics maker. Argentina’s stock market regulator, the

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