Petrobras says discussions on Braskem sale far from over
By Marta Nogueira
RIO DE JANEIRO, July 19 (Reuters) - Brazilian state-run oil company Petrobras said on Wednesday it will analyze all offers presented for Braskem but believes that discussions on a potential sale of the petrochemical producer are still far from over.
Petrobras is one of Braskem's main shareholders alongside conglomerate Novonor, which holds a controlling stake in the firm but has long looked to sell it to repay creditors after entering bankruptcy protection.
Three offers so far have been presented for 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.
Petrobras holds contractual rights to decide if it wants to buy out Novonor in the firm or exercise tag-along rights in case of a potential sale.
"We have the privilege of being the last one to have a say," chief executive Jean Paul Prates told reporters at an event in Rio de Janeiro, adding the state-run giant would take a look at all the proposals. (Reporting by Marta Nogueira, editing by Deepa Babington)
