Braskem: Petrobras estimates agreement on sale in 6 months

In a live on monday morning (6), the president of Petrobras, Roberto Castello Branco, said the company hopes to reach an understanding within six months with Odebrecht on a new shareholders' agreement for petrochemical Braskem. The state-owned company has 47% of the voting capital of the

petrochemical giant." We are discussing with our partner Odebrecht a new shareholders' agreement to allow the company to convert preferred shares into common shares and then be able to sell the shares on the capital market. We still have a long way to go. I hope we're ready in six months. There are some delays. We are accelerating the negotiations to solve the problem in Alagoas (where some neighborhoods sank because of the production of rock salt)," said Castello Branco.

The CEO also returned to talk about the sale of Petrobras shares in BR, but said there is not yet a date. Currently, the state-owned company has 37.5% of br distribuidora's shares. "We are ready for BR as soon as market conditions allow. Today, the conditions are not good for the follow on (sale of shares) br", he said.

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