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HomeMergers & AcquisitionsADNOC bids for controlling stake in Braskem

ADNOC bids for controlling stake in Braskem

Abu Dhabi oil company ADNOC has made a non-binding offer to buy a controlling stake in Brazilian petrochemical producer Braskem. ADNOC has reportedly bid for main shareholder Novonor’s (formerly known as Odebrecht) stake, which the latter has been looking to sell as part of a broader restructuring. The other major shareholder in Braskem is state-run…

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