Brazil's Petrobras does not intend to make Braskem state-run, CEO says
RIO DE JANEIRO, Aug 11 (Reuters) - Brazilian state-run oil company Petrobras does not intend to turn petrochemical producer Braskem into a government-controlled firm, Chief Executive Jean Paul Prates said on Friday.
Petrobras is a major shareholder of Braskem alongside conglomerate Novonor, which holds a controlling stake in the firm but has sought to sell it to repay creditors after entering bankruptcy protection.
The oil giant holds contractual rights to buy out Novonor's stake in the firm or exercise tag-along rights in case of a potential sale.
"I cannot keep giving out clues on what we intend to do with Braskem," Prates told reporters in Rio de Janeiro. "But Petrobras has no intention of turning Braskem into a state-controlled firm." (Reporting by Rodrigo Viga Gaier; Editing by Steven Grattan)
