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Stock impact report

ADNOC terminates talks to buy stake in Brazil's Braskem [Reuters]

Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A) 
US:NYSE Investor Relations: investidorpetrobras.com.br/en
Company Research Source: Reuters
ADNOC [RIC:RIC:ADNOC.UL] has decided to terminate talks to buy a stake held by conglomerate Novonor in the firm, according to a securities filing. ADNOC in November a non-binding offer for the stake that implied the price of 37.29 reais per share, totaling an equity value of 10.5 billion reais ($2.1 billion). Novonor, formerly known as Odebrecht, holds a 38.3% controlling stake in the petrochemical firm, which also has state-run oil giant Petrobras as a major shareholder. ($1 = 5.0830 reais) Coming soon: Get the latest news and expert analysis about the state of the global economy with Reuters Econ World. Sign up Reporting by Andre Romani; editing by Gabriel Araujo Our Standards: Show less Read more
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