Argentina's stock regulator has rejected as inadequate an offer from Brazil's Braskem , Latin America's largest petrochemical company, to buy roughly 30% of the shares of Solvay Indupa that are publicly traded, as per Reuters. Solvay Indupa is the Argentine-Brazilian unit of Belgium's Solvay, which owns 70.59% of the company. The deal would represent Braskem's first move into production in Argentina.
In a contract signed last month, Braskem would buy the stake held by Solvay and buy the remainder of Solvay Indupa on the Buenos Aires stock exchange.
06-Jan-14 
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