Brazil's Novonor Signs Deal to Sell Braskem Controlling Stake to IG4
Brazilian petrochemical company Braskem stated that Novonor and NSP Investimentos have signed an agreement to sell the company's controlling stake to the private equity fund Shine I, which is controlled by asset management firm IG4 Capital. During this period, Shine I and state-owned oil company Petroleo Brasileiro SA (Petrobras) are expected to sign a new Shareholders' Agreement to manage Braskem. IG4 added that as part of this process, a new board of directors will be elected and a new executive management team appointed.
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