UPDATE 1-Petrobras starts due diligence for preemptive rights of Braskem's Novonor stake
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July 10 (Reuters) - Brazil state-run oil company Petrobras said on Monday it requested access to petrochemical firm Braskem's virtual data room to start the due diligence process for the possible exercise of tag along or preemptive rights for a sale of Braskem shares held by Novonor.
In a securities filing, Petrobras said there was no decision about the divestment process or a stake increase in Braskem.
Novonor, formerly known as Odebrecht, is Braskem's main shareholder alongside Petrobras. Novonor has been long looking to sell its controlling stake in Braskem as part of a broader restructuring. (Reporting by Carolina Pulice; Editing by Anthony Esposito)
