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China’s CNOOC seeks to buy stake in Brazil’s Braskem

by ChemOrbis Editorial Team - content@chemorbis.com
  • 15/03/2016 (15:27)
According to media reports, China’s CNOOC is seeking to buy a minority stake in Brazils’s Braskem from state-run Petroleo Brasileiro SA (Petrobras). Previously, Petrobras reported that they had been receiving interest from other global chemical companies regarding their 36% stake in Braskem. The parties are now conducting preliminary talks about the acquisition, according to media sources.

Media sources also reported that Braskem’s controlling shareholder Odebrecht is also seeking to exit Braskem and may sell its stake in a joint transaction with Petrobras.
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