Braskem sale negotiations continue with the Tanure Fund despite the end of the exclusive window

Sao Paulo (Reuters) -Braskem said at business funds supported by businessman Nelson Tanor, despite the end of an exclusive negotiation date for 90 days, Prakim said at one of the working hours on Friday, despite the end of the exclusive negotiation date for 90 days, your name said in one of the working hours on Friday, that sao Paulo (Reuters) -evaluation was conducted For the Brazilian company Novonor, which was previously Odebrecht, to sell a controlling stake at Braskem Petrochemical Company in a box supported by businessman Nelson Tanor, despite the end of the exclusive negotiation date for 90 days.

The exclusive window closed without connecting both parties to an agreement that would exempt the fund, which may pay for damage to a lawsuit stipulating that the company’s salt mines caused drowning in the city of Massio and forced evacuation.

Petroquimica Verde said the source familiar with the Tanure Investment Fund told Reuters that no deal will be signed until it is to ensure that the environmental obligations will not be transferred to new partners and creditors.

Earlier this month, Tanor said in a statement to Reuters that an agreement with the entities involved in the disaster was a “non -(case)” of the deal.

The second source close to the negotiations confirmed that the solution to the issue of environmental responsibility was from the first essential day to the progress of negotiations with Tanure.

The source added that the Novonor decision to continue negotiations with Tanure keeps the door open to a deal, but “he sends an important signal to banks that were uncomfortable with the situation.”

Meanwhile, IG4 Capital is launching a competitive offer for the Braskem share that it controls because it aims to unify the Novonor bank debt and exchange it for Braskem shares, the sources said.

The shares in Braskem increased around 2.4 % in the afternoon trade, as the Braovespa standard, which gained about 2.5 %.

(Participate in the coverage of Luciana Majalb and Gabriel Araojo. Writing by ISABEL Teles. Editing by Mark Potter and Alistair Bell)