Petrobras (PETR4) comments on possible sale of stake in Braskem (BRKM5)

Petrobras holds a relevant stake in Braskem with partner Novonor. (Image: Money Times/Renan Dantas)

A Petrobras (PETR4) said that there was no decision by the executive board or the board of directors in relation to the divestment process of braskem (BRKM5).

“Petrobras clarifies that all actions related to its interest in Braskem require careful analysis from the perspective of portfolio management and must be carried out in compliance with applicable governance practices and internal procedures”, said the company.

The company highlighted that it “reinforces its commitment to the broad transparency of its divestment and portfolio management processes and that material facts will be disclosed to the market in a timely manner”.

On Friday (24), the CEO of the state-owned company, Jean Paul Prates, said in an interview with Bloomberg News that the company was considering increasing its stake in the petrochemical industry. According to him, selling the company’s shares is an option, but so is increasing the stake.

Petrobras holds a relevant stake in Braskem with partner Novonor, the former Odebrecht, and has already tried to dispose of the business.

Source: Moneytimes

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