Petrobras reiterates interest in selling Braskem stake

Petrobras reiterates interest in selling Braskem stake

M&A Equity Debt Bonds Corporate & Sovereign Strategy Energy Oil Brazil

Brazil's state-owned oil company Petrobras said Monday that it still intends to sell its stake in local petrochemical company Braskem although it has not found a buyer. Petrobras is also monitoring the sale of the stake held by Novonor, previously known as Odebrecht, according to a securities filing. Novonor owns 38.3% of Braskem, including 50.1% of voting capital, while Petrobras has 36.1% with 47% of voting capital. Other shareholders own 25.6% of Braskem with 2.9% of voting capital.  Petrobra

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