S\u00e3o Paulo \u2013 Brazilian companies Petrobras and Odebrecht announced today (22nd) the purchase of Unipar\u2019s share of the Quattor petrochemical company and its incorporation into the competing enterprise Braskem, resulting in the creation of the Americas\u2019 largest company in the industry in terms of thermoplastic resin production capacity, according to a press release issued by Petrobras. Petrobras is a partner of Braskem, a company controlled by Odebrecht, and of Quattor, of which Unipar was the majority stakeholder up until today.<\/p>\n
The shareholders\u2019 agreement signed by Petroquisa (Petrobras\u2019 oil industry subsidiary), Odebrecht, Braskem and Unipar provides for an increase in Petrobras\u2019 stake in Braskem, and the petrochemical company\u2019s capital will receive an additional 4.5 billion to 5 billion Brazilian reals (US$ 2.5 billion to US$ 2.8 billion). The proposal had been under negotiation for months, but there was a divergence among Unipar stakeholders concerning the sale.<\/p>\n
Another agreement signed by Petrobras and Odebrecht, still according to Petrobras\u2019s press release, provides for shared decision-making at Braskem, which will now have a near-monopoly over the Brazilian petrochemical industry. The agreement establishes 50.1% of the voting capital to Odebrecht.<\/p>\n
In order to make the deal viable, Petrobras and Odebrecht are going to establish a holding company named BRK Investimentos Petroqu\u00edmicos, which will hold all of the Braskem shares owned by the two; BRK will receive 2.5 billion reals (US$ 1.4 billion) from Petrobras and 1 billion reals (US$ 558.5 million) from Odebrecht.<\/p>\n
\u201cThus, Petrobras will concentrate its investment in the petrochemical industry, including its share of Quattor, into a company that will have greater competitive advantages on a global scale. The company will also have a guarantee of stake ownership in this new company, to be shared with Odebrecht,\u201d according to the press release issued by Petrobras.<\/p>\n
The release also informs that Petrobras, Odebrecht and Braskem have signed another agreement concerning management and ownership of the Petrochemical Complex of the State of Rio de Janeiro (Comperj) and of the Suape Petrochemical Complex, in the state of Pernambuco, both of which are being built by Petrobras. After all operations are concluded, Braskem will have 26 petrochemical plants.<\/p>\n
*Translated by Gabriel Pomerancblum<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
The two companies announced the purchase of Unipar\u2019s share of Quattor petrochemicals and its incorporation into the competing Braskem, which becomes the Americas\u2019 leading thermoplastic resin maker.<\/p>\n","protected":false},"author":2316,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-33574","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"The two companies announced the purchase of Unipar\u2019s share of Quattor petrochemicals and its incorporation into the competing Braskem, which becomes the Americas\u2019 leading thermoplastic resin maker.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/33574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=33574"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/33574\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=33574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=33574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=33574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}