Braskem’s acquisition of rival Quattor creates entity that will produce 100% of Brazil's PE, PP and PVC

25-Jan-10

Months of speculation have come to an end in Brazil with the acquisition of Quattor by Braskem. In a move that will further expand and consolidate Brazil’s petrochemical industry to face global competition, the country’s petrochemical giant Braskem SA has agreed to acquire its rival Quattor Petroquimica SA (Quattor). The new entity will be World No. 8 petrochemical player with combined revenue of over US$17 bln and will control 100% production of Brazil's polyethylene, polypropylene and PVC. Under the terms of the deal, Unipar, the Quattor holding company, has agreed to sell its 60% stake in Quattor for approximately US$478 mlm. Petrobras is the other shareholder with 40% stake.