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Web Date: December 4, 2007

Brazil Restructures Petrochemical Sector

Petrobras increases its stake in Braskem and forms another large chemical player in the country
Department: Business

Brazil???s state oil company, Petrobras, is reshaping the country???s petrochemical industry with two deals. The company is swapping some of its petrochemical assets in exchange for an 18% equity stake in Brazil???s largest private chemical company, Braskem. It is also forming a new petrochemical company with Brazilian industrial group Unipar.

Under the first deal, Braskem will get full control of Copesul, a petrochemical complex . . .

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