2023-09-16 22:03:42
Informed sources revealed that the Brazilian state oil company Petronas is in talks with Abu Dhabi National Oil Company (ADNOC) to acquire a controlling stake in the Braskem petrochemical company.
The Folha de São Paulo newspaper reported that Petronas is considering a joint venture with ADNOC, while a minority stake will remain with Novonor, the current main shareholder in Braskem, along with the Brazilian oil company.
Three offers have been submitted so far to acquire Braskem, including a joint offer between ADNOC and Apollo Asset Management, and two separate offers from the Brazilian companies Unipar Carpochloro and J&F.
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