|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||27.23 - 27.96|
|52 Week Range||21.32 - 33.73|
|PE Ratio (TTM)||12.37|
|Forward Dividend & Yield||2.22 (8.77%)|
|1y Target Est||33.67|
Odebrecht SA is set to agree on the sale of its controlling stake in petrochemical firm Braskem SA to LyondellBasell Industries NV by mid-October, newspaper Valor Econômico reported on Tuesday. By then, state-controlled oil company Petróleo Brasileiro SA will decide whether to include its own stake in Braskem in the deal, clearing the way for the transaction to be submitted to regulators, according to Valor. Odebrecht owns 50.1 percent of Braskem's voting capital.
On June 15, LyondellBasell (LYB) said that it’s in talks with Odebrecht for a potential deal to acquire the controlling stake of Braskem (BAK). Currently, Odebrecht holds the controlling stake in Braskem. A few days ago, Braskem said that it isn’t engaged with LyondellBasell about the potential takeover.
Chemical companies LyondellBasell Industries NV and Braskem SA said Friday that they have entered into exclusive talks regarding a potential merger. In October, The Wall Street Journal reported that Lyondell had made a takeover approach to Braskem, a petrochemical giant and that the sides were in preliminary talks. The talks have been complex given Braskem’s ownership structure.
(Updates prices) By Bruno Federowski BRASILIA, June 15 (Reuters) - The Brazilian currency led gains in Latin American on Friday after the central bank announced it will extend a currency intervention plan while the Argentine peso slumped to a record low after the resignation of its central bank president. The real firmed 2.15 percent, clawing back some of its 2.7 percent drop the previous day, the currency's worst one-day percentage drop since May 2017. The real is down about 11 percent so far this year, the second-worst performing currency in the region behind the Argentine peso, which slumped to a new all-time low against the dollar on Friday after the resignation of Central Bank President Federico Sturzenegger.
LyondellBasell Industries NV (LYB.N) and Odebrecht SA, the controlling owner of petrochemicals producer Braskem, said on Friday they have entered into exclusive talks for Lyondell to acquire control of Braskem, and two people familiar with the matter said the companies are planning a cash and shares deal that could top $9 billion (£6.7 billion). LyondellBasell and Odebrecht expect to reach a final deal in two months, but there is no deadline yet for LyondellBasell to deliver a binding proposal, the sources said, speaking on condition of anonymity because they are not authorized to discuss the terms publicly.
LyondellBasell Industries NV and Odebrecht SA, the controlling owner of petrochemicals producer Braskem, said on Friday they have entered into exclusive talks for Lyondell to acquire control of Braskem, and two people familiar with the matter said the companies are planning a cash and shares deal that could top $9 billion. LyondellBasell and Odebrecht expect to reach a final deal in two months, but there is no deadline yet for LyondellBasell to deliver a binding proposal, the sources said, speaking on condition of anonymity because they are not authorized to discuss the terms publicly.
LyondellBasell Industries NV (NYSE: LYB) is officially in talks “regarding a potential transaction” with Brazil-based Braskem SA (NYSE: BAK), a major petrochemical company with operations in the Houston area, according to a June 15 press release. Last October, reports surfaced that LyondellBasell approached Braskem about a takeover. “Braskem's board of directors and management have been informed of the existence of these discussions.
Brazil's state-run oil company Petroleo Brasileiro said on Friday that if LyondellBasell Industries NV reaches an agreement to buy Odebrecht's stake in Petrochemical firm Braskem SA, it will analyze the ...
Plastic, chemicals and refining company LyondellBasell Industries NV has begun talks with the main shareholder of Brazilian petrochemical firm Braskem SA on a potential tie-up, the two companies said on Friday. The controlling shareholder, Brazilian construction firm Odebrecht SA, which has previously denied receiving a proposal from LyondellBaseel Industries NV, said in the statement it had entered exclusive talks with Lyondell.
ROTTERDAM, The Netherlands and SAO PAULO, June 15, 2018 /PRNewswire/ -- LyondellBasell, (LYB), one of the largest plastics, chemicals and refining companies in the world, and Odebrecht S.A., the controlling shareholder of Braskem (NYSE: BAK, B3: BRKM5, BRKM3), a leading plastic producer in the Americas, in a joint statement today announced the companies have entered into exclusive discussions regarding a potential transaction between LyondellBasell and Braskem. "Both LyondellBasell and Braskem share a strong culture of operational excellence and legacies of value-creating innovation.
Braskem's Neal Polypropylene Production Plant was the First Spheripol Deployment in the U.S. Jeff Blatt, Plant Manager at Braskem's Neal facility, stated, "On behalf of the entire Braskem team, we are proud to celebrate the 30th Anniversary of the Neal production facility taking a leadership role by bringing leading edge innovation to the market with the first U.S. Spheripol process technology deployment ever.
Moody's America Latina has assigned definitive ratings of Baa3 (sf) (Global Scale, Local Currency) and Aaa.br (sf) (Brazilian National Scale) to the senior shares, and B2 (sf) (Global Scale, Local Currency) and Ba1.br (sf) (Brazilian National Scale) to the subordinate mezzanine shares issued by Chemical X - FIDC Indústria Petroquímica, a revolving securitization backed by a pool of trade receivables originated by Braskem S.A. (Ba1 stable).
HOUSTON/PUNTO FIJO, Venezuela (Reuters) - Venezuela has begun testing seaborne oil transfers to ease a severe backlog of crude deliveries from its main terminals, according to sources and data, as chronic delays and production declines could temporarily halt state-run PDVSA's supply contracts if they are not cleared soon. PDVSA's oil sales are the lifeblood of the OPEC-member nation. Tankers waiting to load more than 24 million barrels of crude, almost as much as PDVSA shipped in April, are sitting off Jose, the country's main oil port, according to the data.
Brazilian construction firm Odebrecht SA on Thursday denied receiving a proposal from LyondellBaseel Industries NV to buy its controlling stake in Brazilian petrochemical company Braskem SA, Braskem said ...
LyondellBasell Industries has valued Brazilian petrochemical company Braskem SA at 41.5 billion reais ($11.4 billion) in an offer to Brazilian conglomerate Odebrecht SA months ago, newspaper Valor Econômico reported on Thursday. LyondellBasell made the offer in February but talks stalled in early May, the paper reported, as the conglomerate tries to refinance its debt with Brazilian lenders. The paper said Lyondell was being advised by Morgan Stanley, and Odebrecht by Lazard Ltd.
Braskem SA will soon start to negotiate a long-term contract to buy naphtha from its shareholder Petroleo Brasileiro SA, the chief executive of the Brazilian petrochemical company said on Thursday. Braskem CEO Fernando Musa said the current five-year supply contract, which is one of the largest held by Braskem with state-controlled Petrobras, ends in 2020.
LATIBEX: XBRK), the largest thermoplastic polyolefins producer in the Americas and the worldwide leader in biopolymers, and The Linde Group (Linde AG - Frankfurt Stock Exchange: LIN and LINU), the lead engineering, procurement and construction (EPC) contractor for Braskem's new world-scale North American polypropylene (PP) production line, today announced that Bilfinger Westcon Inc. has been selected as the lead mechanical subcontractor.
On a per-share basis, the Butanta, Brazil-based company said it had net income of 81 cents. The petrochemical company posted revenue of $4.02 billion in the period. Braskem shares have decreased almost ...
Moody's America Latina has assigned provisional ratings of (P) Baa3 (sf) (Global Scale, Local Currency) and (P) Aaa.br (sf) (Brazilian National Scale) to the senior shares, and (P) B2 (sf) (Global Scale, Local Currency) and (P) Ba1.br (sf) (Brazilian National Scale) to the subordinate mezzanine shares to be issued by Chemical X - FIDC Indústria Petroquímica, a revolving securitization backed by a pool of trade receivables originated by Braskem S.A. (Ba1 stable).
SÃO PAULO, May 9, 2018 /PRNewswire/ -- BRASKEM S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 1Q18. HIGHLIGHTS: Braskem - Consolidated: EBITDA amounted to US$818 ...
Brazilian petrochemical producer Braskem posted a 42 percent drop in profit in the first quarter compared to the same period last year, flagging programmed maintenance, and an unreliable electricity supply. Its profit was 1.054 billion reais ($306.29 million) in the first three months of the year. Adjusted earnings before interest, taxes, depreciation and amortization, a gauge of operational profit known as EBITDA, was 2.652 billion reais, a 26 percent drop compared to the first quarter of last year.