Braskem Says There’s a New Potential Buyer for Novonor’s Stake
The entrance of the Braskem petrochemical plant in Duque de Caxias, Brazil.
Photographer: Maria Magdalena Arrellaga/BloombergThis article is for subscribers only.
A new competitor has entered the race for a majority stake in Latin America’s leading petrochemical company Braskem.
A third company is carrying out due diligence on the company, Chief Financial Officer Pedro Freitas said on a conference call with analysts on Tuesday, without disclosing the potential bidder’s name. Petrobras, the petrochemical’s second-biggest shareholder, and Abu Dhabi National Oil Co. are also carrying out due diligence.