Brazil's Petrobras in talks with ADNOC for joint venture at Braskem -media report
Sept 15 (Reuters) - Brazilian state-run oil company Petrobras is in talks with Abu Dhabi's ADNOC for a controlling stake in petrochemical firm Braskem, newspaper Folha de Sao Paulo said on Friday citing sources familiar with the matter.
According to the newspaper, Petrobras was analyzing a joint venture with ADNOC, while a minority stake would remain with Novonor, Braskem's current main shareholder along with the Brazilian oil company.
Three offers so far have been presented to take control of Braskem: a joint bid from Abu Dhabi's ADNOC and U.S. asset manager Apollo, and separate proposals from Brazilian firms Unipar Carbocloro and J&F.
The newspaper also said that ADNOC was considering the current main shareholders remaining with Braskem stakes as a way to speed up an agreement.
Braskem, Petrobras and ADNOC did not immediately respond to a request for comment.
Novonor said it would not comment on the matter. (Reporting by Carolina Pulice and Marta Nogueira; editing by Diane Craft)
