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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|