Petrobras wants more power to appoint Braskem board members and directors, sources say
RIO DE JANEIRO, May 26 (Reuters) - Brazil's Petrobras (PETR4.SA), opens new tab wants to review Braskem's (BRKM5.SA), opens new tab shareholders agreement for possible changes to allow it more say in the petrochemical firm's decisions, three sources close to the matter at the state-run oil firm told Reuters.
Petrobras has a 47% voting stake in the petrochemical company but has appointed four of 11 board members and one director out of seven, numbers it considers small, according to the sources.
Last week, Braskem's majority stakeholder Novonor received a non-binding proposal from a fund owned by businessman Nelson Tanure to acquire control of the largest petrochemical company in Latin America.
Novonor has been trying to sell its stake in Braskem for years, but has repeatedly failed to reach a deal.
Petrobras' objective would be to obtain a new agreement akin to the one it got in Eletrobras, where it increased the number of seats it appoints to the board of the former state-run firm, expanding its influence.
In the event of a sale, Petrobras has preference rights to buy Novonor's stake, but the sources said Petrobras has no interest in increasing its voting share.
Petrobras wants instead to have a more active voice in the management and operations of the petrochemical company, regardless of who is the controlling partner, said the sources.
On Monday, Petrobras CEO Magda Chambriard said Tanure's proposal is a move in the right direction.
"Whatever solution that works out will have Petrobras' support," said Chambriard.
Braskem and Petrobras did not immediately respond to requests for comment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
2 hours ago
- Daily Mail
Arsenal target Rodrygo handed deadline to 'convince everyone' at Real Madrid he deserves his place
Arsenal target Rodrygo has been handed a deadline to convince everyone he belongs at Real Madrid, as per a report. The 24-year-old developed into an integral player for Madrid since joining from Brazilian side Santos for €45million (£37.9m) in 2019. The forward, who has also won 33 caps for Brazil, may have a lower profile than fellow attackers Kylian Mbappe and Vinicius Jnr, yet he still has a hugely impressive record at the Bernabeu. Rodrygo has 68 goals and 50 assists in 267 appearances for Los Blancos but after a difficult campaign, reports have linked him with a move away this summer, with Arsenal believed to be one of many Premier League clubs interested. And with speculation rampant, Madrid have told Rodrygo he must prove he can fit into Xabi Alonso 's system at the upcoming Club World Cup, according to Spanish outlet Marca. The revamped 32-team tournament runs through mid-June to mid-July, meaning the Brazilian forward has around seven weeks to get back to his best. Teams are expected to take this year's Club World Cup more serious than ever before, considering the mammoth prize pool at stake. The side that takes the trophy home will receive a windfall of $40m (£30m), while a team winning of their games could see them land up to $125m (£92m). For reference, the winner of the Champions League earns around £120m, while the Premier League champions typically earn between £38m and £40m for finishing first. Sky Sports Germany previously claimed Arsenal are in talks with the 24-year-old over a move and that he is at the top of their list of targets on the wing, although he has also been touted with a move to Man City, Man United and Liverpool. Mikel Arteta was pressed on these links prior to Arsenal's final game of the campaign against Southampton - which saw them win 2-1. 'If you want to win titles, you have to be the best in the market,' Arteta said, as he refused to confirm or deny the links. 'The teams that win have the best players. 'It's a matter of pride. It shows we've brought the club to a level where people expect us to challenge for trophies. 'What is clear with the amount of injuries that we had in the front line is that we need a goal threat and we need firepower'. Rodrygo scored 18 goals and claimed nine assists in the 2023-24 season as Madrid won the treble. But he has failed to follow it up this season, only bagging six times and providing six assists in LaLiga. He has scored just once in his last 22 matches, last netting against Atletico Madrid in March. Rodrygo was not called up for Carlo Ancelotti's inaugural Brazil squad, whom the former Madrid boss now manages.
Daily Mail
10 hours ago
- Daily Mail
Nottingham Forest close in on Botafogo trio after holding productive talks with Brazilian club
Nottingham Forest have held further productive talks over signing three Botafogo players. Those players are centre-back Jair Cunha, striker Igor Jesus and left-back Cuiabano. Cuiabano was a target for Brighton. Jesus, 24, was wanted by Forest in January. All three played in Sunday's 1-0 with over Santos and Mail Sport expects the deals to be completed following the Club World Cup. Forest attempted to sign Yoane Wissa from Brentford in January and could make another move for him in the summer. Wissa scored 19 non-penalty goals in the Premier League this season, which was level with Erling Halaand and Alexander Isak, and behind only Mohamed Salah 's 20. The arrival of Edu, working across Evangelos Marinakis' clubs, will strengthen ties to the Brazilian market. And that could see Juventus midfielder Douglas Luiz become an option, according to Mail Sport's Tom Collomosse. Manchester City playmaker James McAtee, who has had few minutes at the Etihad, is another they admire.
The Sun
15 hours ago
- The Sun
Chelsea finally discover Club World Cup opponents as former star, 38, assists dramatic winner to set up reunion
CHELSEA have finally discovered their final Club World Cup opponent — thanks to a dramatic late winner created by one of their former stars. The Conference League champions head to the US this summer to take part in the newly-expanded tournament. 4 Chelsea already knew they were going to be facing Brazilian side Flamengo and Tunisian team Esperance Sportive de Tunis in the group stage. However, their third and final opponent remained unknown after Mexican outfit Club Leon were booted out due to Fifa's multi-club ownership rules. Fellow Liga MX side CF Pachuca — also owned by Grupo Pachuca — had already qualified for the Club World Cup, forcing Leon to withdraw. And it meant that another Mexican side, Club America, were handed a dramatic playoff against MLS club LAFC. The Americans were trailing 1-0 with just minutes to go when they equalised in the 89th minute. LAFC then scored an amazing winner in the 115th minute through Denis Bouanga, with former Chelsea star and Champions League winner Olivier Giroud creating the goal for 2-1. Now, the Frenchman will face his former side with LAFC in the opening group stage game on June 16. Chelsea will then play Flamengo four days later on June 20. And five days after that, on June 25, Chelsea end their group stage experience against Esperance. The Club World Cup will be one of the most lucrative tournaments going, with the winner set to bank a mind-blowing £100million. From embarrassing Chelsea pal to interview with dad - Five times Cole Palmer stole show AFTER Conference League finals 4 4 And Chelsea will be desperate to keep the good times rolling after ending a three-year trophy drought against Real Betis on Wednesday. The Blues came back from a goal down to win 4-1 in Warsaw. It came just days after they secured a fourth-place finish to qualify for next season's Champions League. And new signings are already inbound, with Chelsea reportedly beating Manchester United, Newcastle and Everton in the race for £30m Ipswich striker Liam Delap. 4
