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0.000316856780735045 0.000316856780735045 -0.000316856780735157 0 0.000633713561470202 0.000633713561470202 0.000633713561470202 0.000633713561470202
Stock impact report

Petrobras Waits on Offers From Braskem's Other Suitors, CEO Says [BNN Bloomberg (Canada)]

Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A) 
US:NYSE Investor Relations: investidorpetrobras.com.br/en
Company Research Source: BNN Bloomberg
Petroleo Brasileiro SA, as it is formally known, could also exercise preferential rights for the stake, Chief Executive Officer Jean Paul Prates said in Houston on Monday. Shares in Braskem SA tumbled earlier in the day after Adnoc dropped its bid for a stake in the Brazilian chemicals giant, a development that signals the stop-and-start sales process will drag on even longer. “There are other companies looking, doing their due diligence,” Prates said during an interview. “We have our due diligence complete already. We're ready to move. If we need to do an option, we will do it.” Demand for plastics, paints and car parts made from the petrochemicals that Braskem produces is expected to increase in Latin America, and Braskem facilities in Brazil and other countries can be expanded. Still, it has been a challenge for Novonor SA, the financially strained controlling shareholder, to lock in a buyer for its stake. Read More: Braskem Sinks on Bleaker Sale Outlook After Adnoc Drops Bi Show less Read more
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