13.07.2018 • NewsBraskemDede WillamsLyondellBasell

LyondellBasell-Braskem “Done Deal” by October?

LyondellBasell-Braskem “Done Deal” by October?
LyondellBasell-Braskem “Done Deal” by October?

Brazilian conglomerate Odebrecht is poised to agree on the sale of its controlling stake in compatriot petrochemical producer Braskem to LyondellBasell by mid-October, according to a report by Brazilian financial newspaper Valor Econômico.

By that time, the paper said, Braskem’s other major shareholder, oil giant Petrobras, will decide whether to include its own stake. This would allow the transaction to be wrapped up as one and submitted to regulators.

Odebrecht currently owns 50.1% of Braskem's voting capital, while Petrobas holds 47%. LyondellBasell and Odebrecht confirmed last month that they were in exclusive talks for the Dutch-headquartered, US-managed chemical producer to acquire control of Braskem in a cash-and-shares deal.

Valor calculates that Odebrecht’s stake could be worth more than 21 billion Brazilian reais ($5.4 billion), which would place Braskem’s value at about 55 billion reais ($14.3 billion).

Innovation Pitch

The Start-up Platform for Chemistry & Life Sciences
Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.

Free Virtual Event

Sustainability in Bioprocessing
Bioprocess Forum

Sustainability in Bioprocessing

Join us to explore hot topics in sustainable bioprocessing like the industrial potential of enzymatic synthesis, innovative biocatalysis techniques, and the use of digital twins in bioprocessing.