22 January 2010 13:54 [Source: ICIS news]
A Braskem spokesman would not confirm the deal but the company has sent out invitations to a conference call timed for 11:00 ?xml:namespace>
State-controlled oil company Petrobras, which owns major stakes in both firms, said last week that negotiations on the widely expected deal were progressing.
The combined chemicals group would have annual revenues of around Brazilian real (R) 30.4bn/year ($16.8bn/year) and production capacity of 15.6m tonnes/year. It would employ 6,600 persons.
The merged company would be called Nova Braskem and, according to press reports, Petrobras would probably hold around 49% of voting capital.
($1 = R1.81)
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