LyondellBasell, Odebrecht break off Braskem talks

LyondellBasell, Odebrecht break off Braskem talks

M&A Corporate & Sovereign Strategy Brazil Europe

LyondellBasell and Odebrecht said they have ended discussions over the sale of the Brazilian petrochemical company Braskem almost a year after they entered exclusive talks. Odebrecht, which owns 38.3% of all shares in Braskem and 50.1% of voting shares, said it remains focused on "identifying and pursuing alternatives" for the petrochemical company. Brazil's state-owned energy company Petrobras owns 36.1% of all shares and 47% of voting shares in Braskem, while other shareholders have a 25.5%

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial