Finally, After Several Attempts, Braskem and Unipar May Unite Following Announcement of Sale of 7 Assets from the Company in São Paulo

Written by Roberta Souza

Published on 24/10/2022 at 17:32

Foto: reprodução www.braskem.com.br

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The Idea of a Partnership Arose After American Manager Apollo Increased Its Offer by 25% for the Purchase of Braskem’s Assets in São Paulo About 15 Days Ago. Consequently, Unipar Decided to Open the Offer Again

According to reports from Jornal O Globo, Unipar has decided to put forth a new proposal to acquire the seven units of Braskem located in São Paulo. This Sunday, the 23rd, according to gathered information, the company was forced to resume its negotiations.

The negotiations were reopened due to Apollo, the American manager, increasing its offer by 25% for the purchase of Braskem’s assets 15 days ago, prompting Unipar to seek partners for the new offer.

This is not the first time Unipar has attempted to purchase Braskem’s assets in São Paulo. On October 14, the petrochemical company made a public announcement regarding the acquisition of the assets, but without having entered into any binding document.

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Unipar’s Interest

According to the investigations made, Unipar appears to be interested only in the assets of Braskem in São Paulo, in a deal with a price equivalent to R$ 60 per share of the petrochemical company.

According to Unipar, it is part of its routine to evaluate new business opportunities as they arise, constantly researching opportunities for investments, acquisitions, and other strategic alternatives that are consistent and compatible with its objectives.

The company also highlighted that a potential operation involving Braskem S.A. is one of the opportunities being evaluated; however, no binding document has been signed between the company and Braskem, according to Unipar in an official document.

Falling Shares Hindered the Sale of Braskem’s Assets in São Paulo

Since July 2022, the processes surrounding the sale of Braskem have been dragging on. In the case of the assets in São Paulo, the delay occurred due to the drop in the company’s shares, amid a nearly 40% decline in the stock over the course of 2022.

According to reports, the company’s partners (Petrobras and Novonor, formerly Odebrecht) have made few moves to carry out the sale of Braskem.

However, with all this movement surrounding the sale of the company, Braskem’s shares have appreciated significantly in the last 30 days, with a rise of 20.44%.

Finally, After Several Attempts, Braskem and Unipar May Unite Following Announcement of Sale of 7 Assets from the Company in São Paulo

The Idea of a Partnership Arose After American Manager Apollo Increased Its Offer by 25% for the Purchase of Braskem’s Assets in São Paulo About 15 Days Ago. Consequently, Unipar Decided to Open the Offer Again

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

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Unipar’s Interest

Falling Shares Hindered the Sale of Braskem’s Assets in São Paulo

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Finally, After Several Attempts, Braskem and Unipar May Unite Following Announcement of Sale of 7 Assets from the Company in São Paulo

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Falling Shares Hindered the Sale of Braskem’s Assets in São Paulo

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