Braskem Owner Novonor Is Said Close to Deal to Sell Stake to IG4

Novonor SA is close to a deal with creditors to sell its controlling stake in Braskem SA, one of the world’s largest petrochemical companies, to a fund run by asset manager IG4 Capital, according to people familiar with the matter.

Under the agreement, which may be signed as soon as this week, IG4 would share control of Braskem with the company’s other major investor, Petroleo Brasileiro SA, the people said, asking not to be identified because the conversations are private. Under the deal, IG4 would take over as soon as the antitrust regulator in Brazil, known as Cade, approves it, ...