Nucor earnings beat by $0.08, revenue fell short of estimates
Investing.com -- Brazilian businessman Nelson Tanure has hired Rothschild & Co. to handle bank negotiations for his proposed acquisition of Braskem (NYSE:BAK), Latin America’s largest petrochemical company.
Tanure submitted an offer in late May to buy the controlling stake owned by conglomerate Novonor, according to a Reuters report on Monday. This offer has led to exclusive discussions between Tanure and Novonor.
The businessman, who has a history of investing in companies going through financial restructuring, faces additional negotiations beyond the direct talks with Novonor. He must also reach agreements with banks that hold Braskem shares pledged as collateral for Novonor’s debts.
Another key party in the negotiations is oil company Petrobras, which stands as Braskem’s second-largest shareholder after Novonor.
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