Brazilian company Unipar Carbocloro SA has offered to acquire a 34.4% stake in Braskem SA from Novonor for BRL10 billion (US$2 billion).

The objective of the agreement is to enhance Unipar's presence in the Brazilian petrochemical market. Novonor will retain a minority ownership stake in Braskem as part of the deal. Unipar Carbocloro SA, a producer of chlorine, caustic soda, and PVC in South America, seeks to expand its market position. Braskem, on the other hand, holds the market leadership for thermoplastic resins in the Americas and is the polypropylene producer in the USA. Under the agreement, Unipar offered 36.5 reais/share, while Novonor would retain a 4% interest in the outstanding shares.