22 January 2010 15:56 [Source: ICIS news]
The merger of Braskem and Quattor will create ?xml:namespace>
Unipar will receive reais (R) 647.3m ($358m) for its stake in Quattor while Braskem will also acquire Unipar Commercial for R 27.7m and pay Unipar R 25m in cash for its 33.3% stake in Polibutenos.
State-controlled oil company Petrobras, and conglomerate Odebrecht said they would consolidate their direct and indirect interests in petrochemicals and create a holding company for Braskem, BRK Investimentos Petroquimicos SA (BRK). They plan to inject capital into BRK and a capital increase for Braskem.
The merger is going ahead after legal objections to the deal were overcome. Quattor is currently jointly owned by Unipar and Petrobras.
($1 = R1.81)
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