Novonor, which owns a majority stake in Braskem, confirmed that it is in exclusive talks with local investor Nelson Tanure to sell its shares in the Brazilian petrochemical producer, according to a Braskem securities filing.
- Non-binding proposal was made through Petroquímica Verde, one of Tanure’s investment vehicles
- Proposal is still subject to the compliance of Novonor obligations with Petrobras, which owns part of Braskem
- Deal also depends on the conclusion of negotiation with the banks that hold Novonor’s shares in the firm
- NOTE:
Nelson Tanure Is Said to Make Offer for Majority Braskem Stake
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