Lyondell-Braskem deal delayed by Petrobras supply contract talks: sources [Reuters]
Braskem SA ADR (BAK)
US:NYSE Investor Relations:
braskem.com.br/ri/home-en
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Source: Reuters
Lyondell-Braskem deal delayed by Petrobras supply contract talks: sources | Reuters 4 Min Read SAO PAULO (Reuters) - Brazil’s recent change of government has further delayed the long-awaited finalization of LyondellBasell Industries NV’s plan to buy Brazilian petrochemical company Braskem SA, three sources with knowledge of the matter said this week. Netherlands-based LyondellBasell first said it had entered into exclusive talks to acquire control of Braskem from Brazilian conglomerate Odebrecht SA [ODBES.UL] in June. However, the deal’s price depends on a long-term naphtha supply contract with Petroleo Brasileiro SA, which also owns shares in Braskem. The current contract with the state-controlled oil company known as Petrobras expires in December 2020. The sources, who requested anonymity to discuss private talks, said a draft naphtha supply agreement had been reached in December under former Petrobras Chief Executive Officer Ivan Monteiro. But he declined to ratify the deal when it
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BAK
Sec Filings
- 4/26/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/12/24 - Form 6-K
- BAK's page on the SEC website