Petrobras to initiate sale of Braskem

Petrobras has been working on a process, to start by the end of this year,  for the sale of their participation in Braskem, the petrochemicals giant, as reported by the newspaper Valor Econômico on Monday.

According to the newspaper, which cites unidentified sources, the business model will depend on a new shareholders agreement that has been negotiated between the company  and with Odebrecht, which is a co-controller of Braskem with Petrobras.

The newspaper said that one of the ideas under study, supported by Petrobras, would be a share offering of Braskem on the New York Stock Exchange, pulverizing the company’s capital, but it is not yet clear if the operation will go ahead or even if Odebrecht will sell part or all of its shares together with the oil company.

Categories: Petrobras

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