Unipar S.A. In Advanced Talks To Acquire Braskem, Currently Controlled By Novonor And Petrobras

Unipar’s Strategy Could Trigger Significant Transformation in the Brazilian Petrochemical Sector

Last weekend, surprising news emerged in the Brazilian business landscape: Unipar S.A., under the leadership of entrepreneur Frank Geyer Abubakir, is in advanced negotiations to acquire Braskem, the petrochemical giant controlled by Novonor and Petrobras. This bold move could reshape the national petrochemical industry.

On June 10, 2023, Unipar presented a non-binding offer for the indirect acquisition of Braskem’s controlling stake, currently held by Novonor and Petrobras. This acquisition, involving debt negotiations with creditors and the possibility of maintaining a shareholding of Novonor in Braskem, has the potential to reverberate throughout the petrochemical market.

Unipar Aims for Sustainable Growth with Braskem Acquisition

Unipar, alongside Novonor and Petrobras, is crafting a strategy to ensure sustainable and robust growth in the coming decade. The acquisition of Braskem, as pointed out by Maurício Russomano, CEO of Unipar, perfectly aligns with this strategic vision.

Unipar’s ability to carry out large transactions is supported by a solid financial structure. Last year, Unipar recorded net revenue of R$ 7.3 billion and net income of R$ 1.3 billion. This financial performance enabled Unipar to achieve a corporate rating of AA+(bra) from Fitch in December of last year.

Unipar faces several negotiations and hurdles for the acquisition of Braskem, including agreements with Petrobras and creditor banks, possible refinancing, and approvals from various regulatory bodies.

Unipar Seeks Solution for Geological Problem in Alagoas with Braskem

The geological problem in Alagoas is an issue that Unipar is considering as it moves forward with the acquisition of Braskem. The company is searching for a solution that satisfies all parties involved, including the affected communities.

Besides the impact of Unipar’s acquisition of Braskem, the company has significantly invested in Bahia, constructing a new plant in the Camaçari Petrochemical Complex, further strengthening the local petrochemical industry and its relationship with Petrobras and Novonor.

Frank Geyer Abubakir, leader of Unipar, has an outstanding track record in the petrochemical industry, steering Unipar towards strategic negotiations with giants like Braskem, Petrobras, and Novonor. His involvement in social, educational, and cultural projects in Bahia, through the Flávia Abubakir Institute (IFA), also contributes to Unipar’s prestige and acceptance in the market.