Braskem (NYSE:BAK) +2.6% in early trading Friday following reports that another buyer is interested in buying the Brazilian chemical company.
Brazil’s Estadao news organization reported that J&F, the holding company that controls meatpacker JBS, is in talks with banks to buy control of Braskem (BAK) from Novonor, which currently owns 38% of the chemical company and 50.1% of its voting shares.
Brazilian chemical company Unipar Carbocloro and a group composed of Apollo Global Management and Abu Dhabi National Oil also have offered to buy all or part of Braskem (BAK).
Braskem (BAK) shares jumped more than 6% Thursday after the O Globo newspaper reported Apollo (APO) has told creditor banks it would make a new offer for the company.
Petrobras (PBR), which holds a 36.1% ownership stake and 47% of voting shares in Braskem (BAK), reportedly is not considering making an offer to buy the company because it does not want to absorb the company’s $9.8B debt into its balance sheet.
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