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Business
Petrobras Sets Assets for Braskem
October 10, 2005
| A version of this story appeared in
Volume 83, Issue 41
Brazilian state oil company Petrobras has designated the assets it will contribute to Braskem should it take an option to raise its stake in the Brazilian firm from 10% to 30%. Petrobras would contribute a 15.6% stake in Copesul, an ethylene cracker in Rio Grande do Sul, giving Braskem a 45% stake in the complex. It would also contribute an 85% stake in nearby polyethylene maker Petroquímica Triunfo and a 40% stake in Petroquímica Paulínia, a joint venture with Braskem to build a polypropylene plant. Odebrecht, Braskem's largest shareholder, has accepted the terms. Petrobras has until the end of March to execute the option.
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