Braskem participates in bidding to acquire PVC assets of Belgium's Solvay in South America

05-Sep-13

Brazilian petrochemical company Braskem is participating in the bidding to acquire the polyvinyl chloride (PVC) assets of Belgium's Solvay in South America, the company has confirmed in a filing with Brazilian stock market regulator, as per bnamericas.com. The PVC assets are valued at around US$500 mln. Braskem said the negotiations had not yet concluded and it could not say when they would be completed. Solvay Indupa operates two industrial sites, one in Bahía Blanca, Argentina, and the other in Santo André, in Brazil's São Paulo state, that produce PVC plastic and caustic soda. Mexico's Mexichem and Braskem have been seen as the most likely suitors of the assets since Solvay announced its decision to sell them in February this year.