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Tanure May Walk Away from Braskem Deal as Deadline Approaches, say Sources
August 12, 2025
Brazilian businessman Nelson Tanure may abandon his bid to acquire control of Braskem as his 90-day exclusivity window with current owner Novonor nears its August 21 expiration, as per sources. Tanure, who entered exclusive talks in May, insists that settling compensation and legal responsibility related to Braskem’s involvement in the environmental disaster in Maceió, Alagoas, is a “sine qua non” for any deal. The incident was tied to Braskem’s rock salt extraction activities, which began in the 1970s and were halted in 2019 after authorities determined they contributed to the sinking of five neighbourhoods, leading to the displacement of thousands of residents.
With Tanure’s offer potentially falling through, sources said that rival investor IG4 Capital is preparing its own bid and reportedly proposing to consolidate Novonor’s bank debt in exchange for Braskem shares. Meanwhile, Brazilian chemical company Unipar is trying to buy Braskem’s U.S. polypropylene plants for around $ 1bn, as per sources. All parties have declined to comment, leaving the outcome of the high-stakes takeover uncertain.
Braskem’s 7.45% 2029s are up by 0.4 points and currently trading at 65.38, yielding 19.86%.
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