BNDES Impasse Stalls Novonor Debt Transfer to IG4: Valor

Dispute with Brazil’s development bank BNDES is delaying Novonor’s transfer of Braskem-linked debt to a fund controlled by IG4, local newspaper Valor Economico reported, citing people familiar with the matter.

• Dispute between BNDES and Novonor related to other loans has impacted talks and the search for a solution for petrochemical producer Braskem: Valor
• IG4 holds exclusivity since late August to acquire Novonor debt guaranteed by shares in Braskem
• IG4, Novonor and Braskem declined to comment to Valor’s story while BNDES and Petrobras did not respond before its publication

Original story: Exclusivo: Impasse com BNDES atrasa transferência de ações da Braskem ...