Petrobras (PETR4) Receives Letter About Offer to Buy Control of Braskem (BRKM5) – Money Times

a Petrobras (PETR3; PETR4) receive a letter with a proposal from Abu Dhabi National Oil Company (ADNOC) and the Apollo to buy a share Novonor in Braskem (BRKM5), as reported on Friday (19). The state-owned company did not disclose the value of the offer.

The letter was sent to Petrobras because the state-owned company is Braskem’s second largest shareholder and can exercise protective rights in the event of a sale. Currently, Novonor owns 50.1% of the total share capital of the company, and the state-owned oil company, 47%.

The Arabian Oil Company and its director have expressed interest in discussing potential business with Petrobras, a statement said.

Earlier this month, Adnoc and Apollo had already sent an offer to Novonor to buy control of Braskem for up to R$37.5 billion.

According to columnist Lauro Jardim, from the newspaper the worldThe general terms of the offer were laid out in a presentation to Novonor’s creditor banks, which hold Braskem shares as collateral.

See the statement from Petrobras:

Giovanna Leal is a reporter at Money Times and a graduate student in journalism at Unesp – Universidade Estadual Paulista. Join the finance and investment area in 2021.