Brazilian petrochemical company Braskem received three separate offers to be partially or wholly acquired, said local newspaper Valor Economico on Friday, citing sources familiar with the matter.
The offers were made by Braskem’s peer Unipar Carbocloro, investment bank BTG Pactual and private equity firm Apollo Global Management, according to the report.
Apollo’s bid would be for 100% of Braskem’s equity, including stakes held by state-run oil company Petrobras and by industrial conglomerate Novonor, formerly known as Odebrecht.
Unipar would only be interested in Braskem’s Sao Paulo operations, while BTG Pactual made an offer to acquire Novonor’s debts that are guaranteed by the company’s shares in Braskem, said the newspaper.
BTG Pactual declined to comment on the report, while Braskem, Unipar, and Apollo did not immediately respond to a request for comment.
Source: Reuters.com