June 04, 2019

LyondellBasell and Odebrecht S.A. End Discussions Regarding Braskem Acquisition

 LyondellBasell , one of the largest plastics, chemicals and refining companies in the world, today announced it has ended discussions with Odebrecht S.A. concerning the potential acquisition of Braskem.
Odebrecht S.A. is the controlling shareholder of São Paulo-based Braskem.

"The combination of LyondellBasell and Braskem is compelling because of the companies' complementary strengths, product portfolios and operational footprints.
However, after careful consideration, we jointly decided not to pursue the transaction. We want to thank the teams at Odebrecht and Braskem for their cooperation during the entire process," said LyondellBasell CEO Bob Patel.

"We remain focused on advancing our disciplined, value-driven growth strategy. In addition, we intend to expedite our share repurchase program, which currently allows for the repurchase of up to 37 million of our outstanding shares. Our strong cash flows, ample liquidity, and healthy balance sheet allow us to deliver a growing, top-quartile dividend, advance organic growth, and maintain optionalit

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ライオンデルバセル、ブラスケム取得で交渉

オランダの化学大手LyondellBasellは15日、ブラジルの複合企業Odebrechtと同社傘下の石化ブラスケムの取得を巡り独占的な買収交渉に入ったと発表した。ライオンデルバセルは、交渉は初期段階で合意に至るかは不明と説明している。

June 15, 2018

LyondellBasell and Odebrecht S.A. Enter Into Exclusive Discussions Concerning Braskem

LyondellBasell, , one of the largest plastics, chemicals and refining companies in the world, and Odebrecht S.A., the controlling shareholder of Braskem, a leading plastic producer in the Americas, in a joint statement today announced the companies have entered into exclusive discussions regarding a potential transaction between LyondellBasell and Braskem.

The companies jointly stated:

"Both LyondellBasell and Braskem share a strong culture of operational excellence and legacies of value-creating innovation. We believe that the potential combination of LyondellBasell's and Braskem's complementary strengths, product portfolios and operational footprints would create significant value for our shareholders, customers and employees."

"Braskem's board of directors and management have been informed of the existence of these discussions. The discussions are preliminary and no agreements have been reached. Among other things, the parties will need to complete appropriate diligence, negotiate definitive agreements and obtain corporate approvals. There can be no assurance the discussions will result in a transaction or on what terms any transaction may occur. LyondellBasell and Odebrecht S.A. do not intend to make any further comment unless and until the discussions conclude or are required by applicable law."

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March 22, 2019

Lyondell, Odebrecht talks on Braskem slowed by SEC filing, naphtha issues- sources

Brazilian conglomerate Odebrecht SA’s efforts to sell petrochemical maker Braskem SA to LyondellBasell Industries NV may take months longer than expected because of issues linked to a delayed U.S. filing and a supply contract, three sources with knowledge of the matter said.

The talks to sell Odebrecht’s controlling stake are the first step in an $11 billion deal Lyondell aims to complete to create the world’s largest petrochemical company and would also involve state oil company Petroleo Brasileiros SA, Braskem’s other big shareholder.

Lyondell will only be able to extend the offer to Petrobras, which owns a 36 percent stake in Braskem, once Odebrecht agrees to a deal.

Odebrecht, which has been trying to restructure after being implicated in Brazil’s sweeping “Car Wash” scandal（下記）, has been discussing the deal with Lyondell for a year and a half. Speculation about the transaction has helped boost Braskem shares by 16 percent over the last 12 months.

Odebrecht is talking to Lyondell about a price for its shares as well as the overall structure of the deal, the sources added, asking for anonymity to disclose the private talks in recent days.

Lyondell’s board has already decided that it will not conclude the deal before Braskem files its 2017 20F annual report with the U.S. Securities and Exchange Commission, one source said. Braskem has not been able to file the document with the SEC yet due to its auditors’ ongoing assessment of its internal controls.

Braskem signed a leniency agreement with U.S., Brazilian and Swiss prosecutors in late 2016 to settle corruption charges also involving Odebrecht. The company’s ADRs may be delisted by the New York Stock Exchange if it does not file the 20F by May 15.

Another drag on the deal is the delay in the signing of a long-term supply contract of naphtha, a key raw material for Braskem, with Petrobras. Roberto Castello Branco, the oil company’s new chief executive, has yet to signed a draft contract left by his predecessor Ivan Monteiro.

Although Odebrecht initially intended to swap its full stake for LyondellBasell shares, the conglomerate’s financial health has deteriorated and it will need some cash to meet the group’s needs.

　

ブラジル連邦警察が2014年3月17日に，国営石油公社Petro-brasをめぐる汚職事件への捜査（通称「ラバ・ジャット捜査（Operação Lava Jato＝Car Wash）を開始した。

同事件では，ペトロブラスが長年にわたって常習的に取引先企業との契約で水増し請求をさせ，そこから捻出した裏金を政党や有力政治家に繰り返し渡していたとされ，政財界を巻き込むブラジル史上最大の汚職事件となった。

http://repository.ris.ac.jp/dspace/bitstream/11266/6547/1/%5B069-095%5D.pdf
　
2016/12/22

ブラジル建設大手オデブレヒトは21日、米国の海外腐敗行為防止法（FCPA）違反で、米国など3カ国の司法当局に罰金計35億ドル（約4100億円）を支払うと発表した。同社はブラジル国営石油会社ペトロブラスを舞台とした汚職疑惑で、有力政治家らに不正献金を提供していたと米裁判所に認定された。

オデブレヒトは今後23年間で計26億ドル、同社傘下で石油化学大手のブラスケンが9億5700万ドルを支払う。罰金は米国、ブラジル、スイスの司法当局が受け取る。

オデブレヒトは同日、「業務を道徳的に遂行するために、適切で必要な対策を講じる」との声明を公表した。前最高経営責任者（CEO）のマルセロ・オデブレヒト氏はすでにブラジル国内で、贈賄罪などの有罪判決を受けている。