Odebrecht: Search for Braskem’s sale continues

To all indications, the Brazilian holding company Odebrecht maintains the interest in selling its participation in Braskem – the largest petrochemical enterprise in the Americas, controlled by the group and Petrobras.

The current economic crisis coupled with obtaining new debts from the high investments made by Odebrecht in the last decade, led the group to resort to judicial recovery – a legal protection instrument aimed at companies undergoing a financial crisis, But that are recoverable.

According to sources, Odebrecht has never given up on selling its petrochemical assets, which are fundamental to pay off part of the deficit and enable the judicial recovery plan.

In June of this year, the Dutch group LyondellBasell, which maintained negotiation with the holding company, gave up the Braskem purchase contract. Among several factors, the main reason would be the legal uncertainty surrounding the financial situation of Odebrecht. At the time, Braskem’s actions crashed as soon as the news was carried out.

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