Braskem Shareholder Received Offer Worth BRL47 Per Share
10 May 2023 - 10:39PM
Dow Jones News
By Jeffrey T. Lewis
SÃO PAULO--Braskem said early Wednesday morning that its biggest
shareholder, Novonor, informed the Brazilian petrochemical company
that it had received an offer from a pair of potential buyers for
its stake in Braskem.
Units of Apollo Global Management and Abu Dhabi National Oil
Com. offered Novonor and its creditor banks 47 reais per share, the
equivalent of $9.42, Braskem said. The offer included BRL20 cash
per share, another BRL20 per share in debt issued by the offerers
and BRL7 per share in the form of warrants.
Novonor, formerly known as Odebrecht, owns 38.3% of Braskem's
total capital, while Petróleo Brasileiro, or Petrobras, owns 36.1%.
The offer is dependent on the evaluation and negotiations with
Petrobras, said Braskem. The chemical company added that it isn't
involved in negotiations with Novonor or Petrobras regarding the
sale of their stakes.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
May 10, 2023 08:24 ET (12:24 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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