J&F makes proposal of R$10 billion for Braskem

(epbr) J&F Investimentos, the Batista family holding company, presented a proposal to Novonor for Braskem, the petrochemical company confirmed.

The value of the offer, of R$ 10 billion, includes the acquisition of all credits held by Novonor’s financial creditors – whose debt with financial institutions is guaranteed by its shares in Braskem.

In a note issued to Braskem, Novonor informed that no decision, even if preliminary, has been taken regarding the proposal.

“Novonor, together with the financial creditors, will evaluate the terms and conditions of the proposal, as it has done with the other offers previously communicated”, clarified the company.

With this, there are already three offers on Novonor’s table for the company in the petrochemical sector: before J&F, Unipar and a consortium formed by Apollo and Adnoc had already submitted proposals for Braskem.

Petrobras, Braskem’s shareholder, has started the due diligence process of the company’s figures, for the eventual exercise of preemptive rights in the business.

According to a survey by Pipeline, from Valor, the value proposed by J&F is the same as Unipar’s, but pleases banks more by not leaving any stake for Novonor.

In Unipar’s offer, the former Odebrecht will preserve a stake of less than 4% in the petrochemical capital.

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