Petrobras and Unipar examine possibility of IPO for Brazilian petrochemical plant

Brazilian energy giant Petroleo Brasileiro (Petrobras) and partner Uniao das Industrias Petroquimicas (Unipar) are studying the possibility of an initial public offering (IPO) for a new southeast Brazil petrochemicals plant. The petrochem plant will be Brazil's second-largest petrochemicals entity, with an estimated production of 2.4 mln metric tons of basic petrochemicals in 2008. Unipar will hold a 60% stake in the company, and the balance 40% stake will be held by Petrobras. The possible IPO would depend on market conditions, decision for which is expected to by next month.
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