Braskem SA

Braskem SA

Argentine market regulator CNV rejects Braskem's bid for Solvay Indupa

Argentina's stock regulator CNV on Friday rejected Braskem's $1.35 per share bid to buy roughly 30% of the shares of plastics maker Solvay Indupa that are traded on the Buenos Aires bourse. CNV said that the offer was below Solvay Indupa's book value of $2.81 per share as of September.

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Braskem SA

Braskem to take Solvay Indupa private for $290M

Braskem will acquire Argentine-Brazilian plastics maker Solvay Indupa for $290 million. It will buy 70.59% of Solvay Indupa by assuming its debt and through cash. Braskem will also purchase the remaining 29.41% of the company floated on the Buenos Aires bourse.

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