Lefosse and Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga advised on the deal
The Board of Directors of Braskem, the Americas’ largest petrochemical producer, authorized the execution of an agreement with Odebrecht Utilities to acquire a controlling interest in Cetrel, the company responsible for treating and disposing of industrial wastewater and solid waste, environmental monitoring and water supply for industrial use to the company’s plants at the Camaçari Petrochemical Complex in Bahia state.
Under the agreement to acquire 63.7% of the shares in Cetrel held by Odebrecht Utilities, Braskem will pay R$610 million upon the consummation of the transaction, with this amount subject to the adjustments typical to a transaction of this kind. The consummation of the agreement is subject to a vote by the Shareholders’ Meeting of Braskem, in accordance with Article 256 of Brazilian Corporation Law, and to the conditions precedent typical to transactions of this kind.
Braskem is the largest thermoplastic resin producer in the Americas, with annual production volume of over 20 million tons, which includes other chemicals and basic petrochemicals, and annual revenue of R$54 billion. Driven by its purpose of improving people’s lives and creating sustainable solutions in chemicals and plastics, Braskem operates in more than 70 countries, has around 8,000 Team Members and operates 41 industrial units in Brazil, the United States, Germany and Mexico, the latter in partnership with the Mexican company Idesa
Lefosse advised Braskem with a team including Sérgio Machado (Picture), Lilian Toscani, Pablo Arana and Marcela Pinedo.
Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga advised Odebrecht S.A. with Kevin Michael Altit, Paula Vieira de Oliveira, Andrea Bazzo Lauletta, Guilherme Martins Bouzan, Rosane Marques Rosado Carmona, Camila Spadoni Mahfuz and Lucas Cavasin de Souza.
Involved fees earner: Kevin Altit – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Paula Vieira de Oliveira – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Guilherme Martins Bouzan – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Rosane Marques Rosado Carmona – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Camila Spadoni Mahfuz – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Andréa Bazzo Lauletta – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Sérgio Machado – Lefosse; Lilian Toscani – Lefosse; Pablo Arana – Lefosse;