Brazil's Braskem reaches reparations deal with city of Maceio
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SAO PAULO, July 21 (Reuters) - Brazilian petrochemical company Braskem said on Friday it has reached a deal to pay reparations for the northeastern city of Maceio, where cracks and sinking ground near its salt mines required thousands to be relocated.
Braskem, which has oil giant Petrobras and conglomerate Novonor as major shareholders, said in a securities filing it will pay Maceio 1.7 billion reais ($354.31 million), of which some 700 million had been previously set aside.
($1 = 4.7980 reais) (Reporting by Gabriel Araujo; editing by Jason Neely)
