SAO PAULO, Brazil, July 10 /PRNewswire/ --
- Favorable decision also includes the investment agreement between Braskem and Petrobras
Braskem (BOVESPA: BRKM3, BRKM5, BRKM6; NYSE: BAK; LATIBEX: XBRK), the leading company in the thermoplastic resins industry in Latin America and third-largest resin producer in the Americas, announces that Brazil's antitrust authority, CADE (Conselho Administrativo de Defesa Economica), today gave the final approval to the acquisition of the petrochemical assets of the Ipiranga Group by Braskem and Petrobras. The only recommendation made by CADE was to adjust the clause regarding non-competition by the sellers, which is limited to the markets where they operated.
In the same decision, CADE also approved the investment agreement, whereby Petrobras transferred to Braskem its minority interests in Copesul, Ipiranga Petroquimica, Ipiranga Quimica and Petroquimica Paulinia.
The full press release is available on the Company's IR website: http://www.braskem.com.br/ir
For further information, please contact Braskem's Investor Relations Area:
Luiz Henrique Valverde (+55-11-3576-9744, firstname.lastname@example.org) Luciana Paulo Ferreira (+55-11-3576-9178, email@example.com) Silvio Nonaka (+55-11-3576-9471, firstname.lastname@example.org)
Web site: http://www.braskem.com.br/ir
Luiz Henrique Valverde +55-11-3576-9744, email@example.com, or Luciana Paulo Ferreira, +55-11-3576-9178, firstname.lastname@example.org, or Silvio Nonaka +55-11-3576-9471, email@example.com, all of Braskem