Brazilian engineering group Novonor has made no “material progress” in talks regarding a potential sale of its controlling stake in petrochemical firm Braskem, the latter said in a filing on Tuesday, citing a statement received from the shareholder.
Earlier in the day, four sources told Reuters that Novonor was close to reaching a deal to sell most of its stake in Braskem to asset manager IG4 Capital, with a final agreement possibly being concluded in the coming days.
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