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Petrobras to Acquire Suzano; Eyes Deal with Unipar

1:37 PM MDT | August 22, 2007 | Chemical Week Editorial Staff

Brazil’s state-owned oil and petrochemical company Petrobras (Rio de Janeiro) has agreed to acquire polypropylene and polyethylene producer Suzano Petroquímica (Rio de Janeiro) for R2.7 million ($1.4 billion). Petrobras will pay R2.2 billion for the 76% stake held by Suzano’s controlling shareholders, and up to R600 million to tender an offer to buy stock held by minority shareholders. The acquisition is the latest in a series of recent petchem deals that Petrobras has announced. Earlier this year, Petrobras, Braskem (São Paulo), and...

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