Industry News

LyondellBasell & Braskem Discuss Merger of Businesses

Published on 2018-06-18. Author : SpecialChem

LyondellBasell and Odebrecht S.A. have announced that the companies have entered into exclusive discussions regarding a potential transaction between LyondellBasell and Braskem.

Potential Transaction between LyondellBasell and Braskem

LyondellBasell Braskem Merger Discussion
LyondellBasell & Braskem Discuss Merger of Businesses
The companies jointly stated:

"Both LyondellBasell and Braskem share a strong culture of operational excellence and legacies of value-creating innovation.”

We believe that the potential combination of LyondellBasell's and Braskem's complementary strengths, product portfolios and operational footprints would create significant value for our shareholders, customers and employees."

"Braskem's board of directors and management have been informed of the existence of these discussions. The discussions are preliminary and no agreements have been reached. Among other things, the parties will need to complete appropriate diligence, negotiate definitive agreements and obtain corporate approvals.

There can be no assurance the discussions will result in a transaction or on what terms any transaction may occur. LyondellBasell and Odebrecht S.A. do not intend to make any further comment unless and until the discussions conclude or are required by applicable law."

Source: LyondellBasell
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