Geyer, stake holder in Quattor, plans to outbid offer by Braskem SA

Alberto Geyer, a shareholder in Quattor Petroquimica SA, plans to outbid any offer made by Braskem SA for an indirect controlling stake in the Brazilian petrochem maker. The son of Unipar founder; Geyer seems set to raise his 240 mln real (US$139 mln) offer for 76% of Vila Velha Participacoes, in which he currently owns 24% stake. Alberto has secured financing from banks, could also explore the option to use his own money to take over Vila Velha from his four sisters. Vila Velha which indirectly controls Quattor, as it owns 56% of Uniao de Industrias Petroquimicas SA ( Unipar), which holds 60% of Quattor. Petrobras owns the balance 40% of Quattor, and also holds 30% of Braskem. This is in a reaction to announcement of final stage talks between Latin America’s largest petrochemicals maker Braskem and Quattor to form an alliance. When Unipar and state- controlled oil company Petrobas decided to join their stakes in Brazilian petrochemical plants into a single company, Quattor was formed in June 2008.
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