{"id":88733,"date":"2024-05-08T10:03:38","date_gmt":"2024-05-08T13:03:38","guid":{"rendered":"https:\/\/murray.adv.br\/?p=88733"},"modified":"2024-05-08T10:03:40","modified_gmt":"2024-05-08T13:03:40","slug":"adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/","title":{"rendered":"ADNOC gives up on buying Braskem amid Macei\u00f3 soil sinking"},"content":{"rendered":"\n<h6 class=\"wp-block-heading has-text-align-center\"><strong><em>Lack of definitive agreement on the petrochemical company\u2019s environmental liabilities made Abu Dhabi state-owned company withdraw from negotiations<\/em><\/strong><\/h6>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>05\/08\/2024 <\/p>\n\n\n<div class=\"wp-block-image is-style-rounded\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"308\" height=\"234\" src=\"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg\" alt=\"\" class=\"wp-image-88734\" style=\"width:506px;height:auto\" srcset=\"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg 308w, https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC-300x228.jpg 300w\" sizes=\"auto, (max-width: 308px) 100vw, 308px\" \/><\/figure>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<p>Five years on, Alagoas has once again become the sticking point in Braskem\u2019s sale process. The lack of a definitive agreement on the petrochemical company\u2019s environmental liabilities in Macei\u00f3 and a recent interest in other oil and gas assets around the world, including BP, led the Abu Dhabi National Oil Company (ADNOC) to give up on buying the Brazilian company, Valor has learned.<\/p>\n\n\n\n<p>Braskem, however, is still on the radar of another Arab company, Petrochemical Industries Company (PIC), which received Novonor representatives in Kuwait last week, according to sources. PIC is still conducting due diligence, which is still in its initial stages.<\/p>\n\n\n\n<p>Rumors that ADNOC was withdrawing from the dispute began circulating around 20 days ago. At the time, BP had already received an expression of interest from the Abu Dhabi state-owned company to buy a slice of its shares or control, according to Reuters. The talks, however, did not prosper.<\/p>\n\n\n\n<p>According to sources familiar with the negotiations between Novonor (formerly Odebrecht) and ADNOC, the talks have progressed well, with signs that an agreement could finally be reached by the end of November. Novonor was still not satisfied with certain terms of the offer, but for the first time the parties involved in the potential transaction were converging on the same point: that of signing a sale and purchase agreement.<\/p>\n\n\n\n<p>However, the collapse of Braskem\u2019s rock salt mine 18 in Macei\u00f3 in December and the exposure the case gained, culminating in an investigative parliamentary committee (CPI), threw cold water on ADNOC\u2019s interest.<\/p>\n\n\n\n<p>The Arab state-owned company wasn\u2019t frightened by the soil sinking in Macei\u00f3 per se but by insecurity generated by political interference in the discussions and questions surrounding the reparation agreements signed by the petrochemical company, as well as the lack of a definitive solution that could prevent, for example, questions about liability in the event of further events. So far, Braskem\u2019s damages in Alagoas stands at R$15.5 billion.<\/p>\n\n\n\n<p>In November, ADNOC made a new non-binding offer to buy control of Braskem, held by the former Odebrecht, for R$37.29 each share, or R$10.5 billion. The proposal was also presented to Novonor\u2019s creditors \u2013 Bradesco, Ita\u00fa Unibanco, Santander, Banco do Brasil, and Brazilian Development Bank (BNDES) \u2013 who hold Braskem shares as collateral for debts of around R$14 billion.<\/p>\n\n\n\n<p>For the sale of Braskem to go ahead, ADNOC would have to present a binding offer (with a commitment to buy) at the end of the due diligence it was conducting. Petrobras would then have to indicate its position in the transaction.<\/p>\n\n\n\n<p>The petrochemical company\u2019s second-largest shareholder, with 36.1% of the total capital (and 47% of the voting shares), Petrobras has the right to buy the share of its partner Novonor\u201438.3% of the total capital and 50.1% of the common shares\u2014or to sell its stake together with the former Odebrecht.<\/p>\n\n\n\n<p>At the beginning of Monday night, Petrobras informed that it is carrying out due diligence on Braskem for the possible exercise of a tag-along or pre-emptive right, in the event of the sale of the shares held by Novonor.<\/p>\n\n\n\n<p>It is unclear how the creditor banks of the former Odebrecht will react to yet another failure in the years-long attempt to sell Braskem. In June 2019, LyondellBasell abandoned exclusive negotiations precisely because of the revelation of the soil-sinking problem in Macei\u00f3.<\/p>\n\n\n\n<p>Sought for comment, Novonor said that it was still engaged \u201cin order to move forward with the process, in line with the commitment made to its related parties,\u201d and ADNOC confirmed that it had withdrawn from the negotiations.<\/p>\n\n\n\n<p>*Por Stella Fontes\u00a0\u2014 S\u00e3o Paulo<\/p>\n\n\n\n<p>Source: Valor International<\/p>\n\n\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/valorinternational.globo.com\/\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Lack of definitive agreement on the petrochemical company\u2019s environmental liabilities made Abu Dhabi state-owned company withdraw from negotiations 05\/08\/2024 Five years on, Alagoas has once again become the sticking point in Braskem\u2019s sale process. The lack of a definitive agreement on the petrochemical company\u2019s environmental liabilities in Macei\u00f3 and a recent interest in other oil [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[24986,24987],"class_list":["post-88733","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-adnoc-gives-up-on-buying-braskem","tag-maceio-soil-sinking"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ADNOC gives up on buying Braskem amid Macei\u00f3 soil sinking - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADNOC gives up on buying Braskem amid Macei\u00f3 soil sinking - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Lack of definitive agreement on the petrochemical company\u2019s environmental liabilities made Abu Dhabi state-owned company withdraw from negotiations 05\/08\/2024 Five years on, Alagoas has once again become the sticking point in Braskem\u2019s sale process. The lack of a definitive agreement on the petrochemical company\u2019s environmental liabilities in Macei\u00f3 and a recent interest in other oil [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/\" \/>\n<meta property=\"og:site_name\" content=\"Murray Advogados\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-08T13:03:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-08T13:03:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg\" \/>\n<meta name=\"author\" content=\"Gelcy Bueno\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gelcy Bueno\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/\"},\"author\":{\"name\":\"Gelcy Bueno\",\"@id\":\"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e\"},\"headline\":\"ADNOC gives up on buying Braskem amid Macei\u00f3 soil sinking\",\"datePublished\":\"2024-05-08T13:03:38+00:00\",\"dateModified\":\"2024-05-08T13:03:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/\"},\"wordCount\":631,\"image\":{\"@id\":\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg\",\"keywords\":[\"ADNOC gives up on buying Braskem\",\"Macei\u00f3 soil sinking\"],\"articleSection\":[\"Murray News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/\",\"url\":\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/\",\"name\":\"ADNOC gives up on buying Braskem amid Macei\u00f3 soil sinking - Murray Advogados\",\"isPartOf\":{\"@id\":\"https:\/\/murray.adv.br\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg\",\"datePublished\":\"2024-05-08T13:03:38+00:00\",\"dateModified\":\"2024-05-08T13:03:40+00:00\",\"author\":{\"@id\":\"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e\"},\"breadcrumb\":{\"@id\":\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#primaryimage\",\"url\":\"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg\",\"contentUrl\":\"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"In\u00edcio\",\"item\":\"https:\/\/murray.adv.br\/en\/home\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ADNOC gives up on buying Braskem amid Macei\u00f3 soil sinking\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/murray.adv.br\/en\/#website\",\"url\":\"https:\/\/murray.adv.br\/en\/\",\"name\":\"Murray Advogados\",\"description\":\"PLG International Lawyers\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/murray.adv.br\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e\",\"name\":\"Gelcy Bueno\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/murray.adv.br\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1ef2acfe966d6deacdeccd2a24ea89192c41fd05fc60e57b79021358a47f5641?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1ef2acfe966d6deacdeccd2a24ea89192c41fd05fc60e57b79021358a47f5641?s=96&d=mm&r=g\",\"caption\":\"Gelcy Bueno\"},\"url\":\"https:\/\/murray.adv.br\/en\/author\/news\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"ADNOC gives up on buying Braskem amid Macei\u00f3 soil sinking - Murray Advogados","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/","og_locale":"en_US","og_type":"article","og_title":"ADNOC gives up on buying Braskem amid Macei\u00f3 soil sinking - Murray Advogados","og_description":"Lack of definitive agreement on the petrochemical company\u2019s environmental liabilities made Abu Dhabi state-owned company withdraw from negotiations 05\/08\/2024 Five years on, Alagoas has once again become the sticking point in Braskem\u2019s sale process. The lack of a definitive agreement on the petrochemical company\u2019s environmental liabilities in Macei\u00f3 and a recent interest in other oil [&hellip;]","og_url":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/","og_site_name":"Murray Advogados","article_published_time":"2024-05-08T13:03:38+00:00","article_modified_time":"2024-05-08T13:03:40+00:00","og_image":[{"url":"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg","type":"","width":"","height":""}],"author":"Gelcy Bueno","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Gelcy Bueno","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#article","isPartOf":{"@id":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/"},"author":{"name":"Gelcy Bueno","@id":"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e"},"headline":"ADNOC gives up on buying Braskem amid Macei\u00f3 soil sinking","datePublished":"2024-05-08T13:03:38+00:00","dateModified":"2024-05-08T13:03:40+00:00","mainEntityOfPage":{"@id":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/"},"wordCount":631,"image":{"@id":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#primaryimage"},"thumbnailUrl":"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg","keywords":["ADNOC gives up on buying Braskem","Macei\u00f3 soil sinking"],"articleSection":["Murray News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/","url":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/","name":"ADNOC gives up on buying Braskem amid Macei\u00f3 soil sinking - Murray Advogados","isPartOf":{"@id":"https:\/\/murray.adv.br\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#primaryimage"},"image":{"@id":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#primaryimage"},"thumbnailUrl":"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg","datePublished":"2024-05-08T13:03:38+00:00","dateModified":"2024-05-08T13:03:40+00:00","author":{"@id":"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e"},"breadcrumb":{"@id":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#primaryimage","url":"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg","contentUrl":"https:\/\/murray.adv.br\/wp-content\/uploads\/2024\/05\/ADNOC.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/murray.adv.br\/en\/adnoc-gives-up-on-buying-braskem-amid-maceio-soil-sinking\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"In\u00edcio","item":"https:\/\/murray.adv.br\/en\/home\/"},{"@type":"ListItem","position":2,"name":"ADNOC gives up on buying Braskem amid Macei\u00f3 soil sinking"}]},{"@type":"WebSite","@id":"https:\/\/murray.adv.br\/en\/#website","url":"https:\/\/murray.adv.br\/en\/","name":"Murray Advogados","description":"PLG International Lawyers","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/murray.adv.br\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/murray.adv.br\/en\/#\/schema\/person\/dd0d0bea46c2436124555d18c1a0d52e","name":"Gelcy Bueno","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/murray.adv.br\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1ef2acfe966d6deacdeccd2a24ea89192c41fd05fc60e57b79021358a47f5641?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1ef2acfe966d6deacdeccd2a24ea89192c41fd05fc60e57b79021358a47f5641?s=96&d=mm&r=g","caption":"Gelcy Bueno"},"url":"https:\/\/murray.adv.br\/en\/author\/news\/"}]}},"_links":{"self":[{"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/posts\/88733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/comments?post=88733"}],"version-history":[{"count":1,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/posts\/88733\/revisions"}],"predecessor-version":[{"id":88736,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/posts\/88733\/revisions\/88736"}],"wp:attachment":[{"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/media?parent=88733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/categories?post=88733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/murray.adv.br\/en\/wp-json\/wp\/v2\/tags?post=88733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}