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4-Traders Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Braskem SA    BRKM5   BRBRKMACNPA4

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LyondellBasell approaches Brazil's Braskem for takeover-WSJ

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10/30/2017 | 07:10pm CET
General view of the refinery of US chemicals group LyondellBasell in Berre near Marseille

(Reuters) - LyondellBasell Industries NV (>> LyondellBasell Industries NV) has approached Brazil's Braskem SA (>> Braskem SA) for a potential takeover, valuing the petrochemicals company at more than $10 billion (7.57 billion pounds), the Wall Street Journal reported on Monday.

(Reuters) - LyondellBasell Industries NV (>> LyondellBasell Industries NV) has approached Brazil's Braskem SA (>> Braskem SA) <BAK.N> for a potential takeover, valuing the petrochemicals company at more than $10 billion (7.57 billion pounds), the Wall Street Journal reported on Monday.

The talks are at an early stage and there is no guarantee of a deal, the Journal reported, citing people familiar with the matter. http://on.wsj.com/2zRqhHj

A deal would help LyondellBasell expand in Latin America, where Braskem is the biggest petrochemicals company.

The news comes amid a wave of big mergers in the chemicals sector. Dow Chemical and DuPont completed their $130 billion merger last month to form DowDuPont (>> DowDuPont Inc), while ChemChina bought Swiss seeds group Syngenta (>> Syngenta) for $43 billion earlier this year.

LyondellBasell and Braskem did not immediately respond to Reuters requests for comment.

LyondellBasell's shares rose 6 percent to $105.03 while Braskem's U.S.-listed shares climbed 14 percent to $33.42 in afternoon trading on the New York Stock Exchange.

(Reporting by Ahmed Farhatha in Bengaluru; Editing by Sai Sachin Ravikumar)

Valeurs citées dans l'article
ChangeLast1st jan.
DOWDUPONT 1.01% 72.3269 Delayed Quote.0.15%
LYONDELLBASELL INDUSTRIES 1.78% 110.47 Delayed Quote.1.52%
SYNGENTA 0.20% 453.4 End-of-day quote.0.31%
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Financials ( BRL)
Sales 2017 49 174 M
EBIT 2017 9 198 M
Net income 2017 3 249 M
Debt 2017 23 063 M
Yield 2017 4,69%
P/E ratio 2017 9,45
P/E ratio 2018 13,25
EV / Sales 2017 1,20x
EV / Sales 2018 1,15x
Capitalization 35 877 M
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Number of Analysts 13
Average target price 54,3  BRL
Spread / Average Target 21%
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Managers
NameTitle
Fernando Musa Chief Executive Officer
Newton Sérgio de Souza Chairman
Pedro van Langendonck de Freitas CFO & Investor Relations Officer
João Cox Neto Independent Director
Ernani Filgueiras de Carvalho Vice Chairman
Sector and Competitors
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PRAXAIR0.25%43 979
LYONDELLBASELL INDUSTRIES1.52%42 842
GIVAUDAN-4.97%21 239