June 5, 2019 |
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%
Dutch and Brazilian firms call off a deal after almost a year of talks