Business News: LyondellBasell, Odebrecht S.A. End Discussions Regarding Braskem Acquisition

Business News: LyondellBasell, Odebrecht S.A. End Discussions Regarding Braskem Acquisition

HOUSTON and LONDON (STL.News) – LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining companies in the world, today announced it has ended discussions with Odebrecht S.A. concerning the potential acquisition of Braskem.  Odebrecht S.A. is the controlling shareholder of São Paulo-based Braskem.

“The combination of LyondellBasell and Braskem is compelling because of the companies’ complementary strengths, product portfolios and operational footprints.  However, after careful consideration, we jointly decided not to pursue the transaction.

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