Novonor confirms it received an offer of R$47.00 per Braskem share from Apollo and Adnoc
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Novonor confirmed that it received a non-binding offer from the American private equity fund Apollo and Adnoc, the state oil company in Abu Dhabi, for the indirect acquisition of the stake held in Braskem. The offer was anticipated by Broadcast, Grupo Estado’s real-time news system. The non-binding proposal establishes R$47.00 per share with the usual adjustments for this type of transaction. Braskem is the main petrochemical company in Brazil and in the Triunfo complex.
In a material fact sent to the Brazilian Securities and Exchange Commission (CVM), Braskem informs that Novonor’s shares are fiduciary sold to creditor banks and that the offer is also intended for these financial institutions. “Novonor reiterates that the offer is under its evaluation and emphasizes that no decision, even if preliminary, has been taken in its respect”, says the shareholder in response to Braskem, which received questions from the CVM about the lack of information about the process.
Price
The non-binding proposal received by Novonor establishes R$ 47.00 per share with the usual adjustments for this type of transaction, which may represent 4% between the signature and conclusion of the transaction. The price per share is divided into R$ 20.00 paid in cash, in cash; R$ 20.00 paid with perpetual debentures issued by the acquiring vehicles, with a rate of 4% per annum; and approximately R$7.00 with deferred payment in the form of a “warrant”.
According to Novonor, the non-binding proposal depends on evaluation and negotiation with Petrobras and its effectiveness is subject to compliance with certain usual conditions for this type of operation, including but not limited to the due diligence process and approval by the competent bodies. of the companies involved.
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