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Braskem: Acquisition of rival Quattor completed

The negotiations for Braskem's (São Paulo / Brazil; www.braskem.com) takeover of Quattor (São Paulo; www.quattor.com.br) have been wrapped up. Following the acquisition, Braskem will hold 60% of Quattor's shares. The family-owned construction and chemical giant Odebrecht will in turn hold 50.1% of the shares in the new Braskem.

Braskem is financing the acquisition, worth some USD 477m (EUR 184m), through the release of new shares worth EUR 1.7-1.9 bn. Following the acqusition, Braskem now owns 26 plants with a total capacity of about 3m t/y of PE, 2m t/y of PP and roughly 510,000 t/y of PVC.

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