Brazil’s Petrobras and petrochemical company Braskem announced an asset swap, widening the sector's consolidation and untangling a complex ownership structure that has limited growth.
Under the deal, Petrobras will boost its stake in Braskemto 25 per cent from 6.8 per cent. Petrobras also has an option to pass on to Braskem its ownership of Petroquimica Triunfo.
