Latest news with #Novonor
Reuters
5 days ago
- Business
- Reuters
Petrobras wants more power to appoint Braskem board members and directors, sources say
RIO DE JANEIRO, May 26 (Reuters) - Brazil's Petrobras ( opens new tab wants to review Braskem's ( 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.
Reuters
23-05-2025
- Business
- Reuters
Brazil's Novonor confirms Tanure's offer for controlling stake in Braskem
SAO PAULO, May 23 (Reuters) - Brazilian businessman Nelson Tanure has made an offer to acquire a controlling stake in Braskem ( opens new tab, a securities filing showed on Friday, confirming local media and Reuters reports that cited sources earlier in the day. The tycoon is looking to acquire conglomerate Novonor's ( stake in Braskem for an undisclosed value, according to the filing released by the petrochemical firm, which cited a letter it received from Novonor. Tanure and Novonor signed an exclusivity agreement to discuss the terms and conditions of the proposal, the filing added.
Reuters
16-04-2025
- Politics
- Reuters
Wife of Peru's Humala arrives in Brazil for asylum as ex-president jailed
BRASILIA/LIMA, April 16 (Reuters) - Nadine Heredia, the wife of former Peruvian President Ollanta Humala, arrived in Brazil on Wednesday as the ex-leader spent the night in jail following a 15-year sentence for money laundering. Heredia landed in Brazil's capital after requesting asylum, the Brazilian foreign ministry said. She was slapped with a 15-year sentence of her own on Tuesday in the same case as her husband. here. The two were convicted of receiving funds from Brazilian builder Odebrecht, now known as Novonor ( in a sweeping graft case in which the construction firm doled out bribes to politicians across Latin America. Humala spent his first night imprisoned in the same jail where two other one-time heads of state, Alejandro Toledo and Pedro Castillo, are also being held. The unit was built particularly to hold former leaders. Heredia and one of her three children took off for Brasilia at around 4 a.m. local time in a plane sent by the government of leftist President Luiz Inacio Lula da Silva, lawyer Julio Espinoza told local radio RPP. She will head to Sao Paulo later in the day, where she will stay, her lawyer in Brazil, Marco Aurelio de Carvalho, told Reuters. Peru's government granted Heredia and her son safe passage to travel to Brazil after conversations between the two governments, Peru's foreign ministry said. Humala, a retired military officer who led the Andean nation from 2011 to 2016, is Peru's second former president to be jailed and the fourth to be implicated for his role in the case involving Odebrecht. Former Odebrecht executives have said in Peruvian court that the firm had financed almost all presidential candidates in the country for a nearly 30-year period.
NBC News
16-04-2025
- Politics
- NBC News
Peruvian ex-President jailed for money laundering as Brazil grants diplomatic asylum to his wife
A Peruvian court on Tuesday sentenced ex-President Ollanta Humala to 15 years in prison for receiving illicit campaign funds from a Brazilian construction firm, making him the nation's latest former leader to head behind bars. Humala and his wife were accused of receiving funds from Brazilian builder Odebrecht, now known as Novonor, in his successful 2011 election campaign. Humala's wife, Nadine Heredia, was also sentenced to 15 years in prison on Tuesday. Peru's foreign ministry said that following the verdict Heredia entered the Brazilian embassy in Lima to request asylum. According to one of Humala's lawyers in Brazil, Marco Aurelio de Carvalho, Heredia has cancer and had previously requested permission to travel to Brazil for treatment, but the request was declined. Following the verdict, Peru's Foreign Ministry said Heredia entered the Brazilian embassy in Lima to request diplomatic asylum, which was granted for her and her youngest son. The Peruvian government also said it would provide safe-passage and guarantees for their transfer. Humala, a retired military officer who led the Andean nation from 2011 to 2016, will likely carry out his sentence on a police base built specially to house Peru's jailed leaders. Former presidents Alejandro Toledo and Pedro Castillo are currently jailed at the site, while Alberto Fujimori stayed there until his release in 2023. During his trial, which lasted three years after an investigation which kicked off in 2016, Humala decried the charges as political persecution. Prosecutors alleged Humala received the illicit funds in his 2011 campaign against Keiko Fujimori — the other former president's daughter — through Humala's Nationalist Party. His imprisonment will be effective immediately, even if he appeals the conviction. The court is expected to continue reading out the full sentencing over the next several days. Humala's lawyer, Wilfredo Pedraza, called the sentence 'excessive,' saying prosecutors failed to prove the illegal origin of the funds. He said the defense plans to appeal once the final ruling is issued on April 29. A one-time construction colossus, Odebrecht has admitted that it doled out bribes to governments across Latin America to help build its vast empire. It changed its name to Novonor in 2020 and is currently undergoing bankruptcy proceedings. Humala is Peru's second former president to be jailed and the fourth to be implicated for his role in the sweeping graft case known as 'Lava Jato.' In 2019, former President Alan Garcia killed himself by gunshot wound as police descended on his home to arrest him for alleged corruption related to the firm. The year before, Pedro Pablo Kuczynski was forced to step down after just two years in office. Meanwhile, Toledo was sentenced to two decades in prison last year after receiving $35 million in bribes in exchange for public works contracts. Former Odebrecht executives have said in Peruvian court that the firm had financed nearly all presidential candidates in the country for a nearly 30-year period.
Express Tribune
16-04-2025
- Politics
- Express Tribune
Peru jails former president Humala Ollanta and wife for 15 years
Listen to article Peru's former president Ollanta Humala was sentenced to 15 years in prison on Tuesday after being found guilty of accepting illicit campaign funding from Brazilian construction giant Odebrecht. His wife, Nadine Heredia, received an identical sentence. Shortly after the ruling, Peru's foreign ministry confirmed she had entered the Brazilian embassy in Lima and was granted diplomatic asylum, citing health concerns. She will be allowed safe passage to travel to Brazil with her youngest son. Ollanta Humala, who served from 2011 to 2016, becomes the latest in a string of former Peruvian leaders to be imprisoned for corruption-related charges. The court found that Ollanta Humala and Nadine Heredia received illegal contributions during his presidential bids in 2006 and 2011. The funds allegedly came from Odebrecht – now known as Novonor – which has admitted to decades-long bribery schemes throughout Latin America. Prosecutors had sought a 20-year sentence for Ollanta Humala and 26 years for Nadine Heredia. Both were accused of funnelling millions through the Nationalist Party to fund election campaigns. They denied the charges and plan to appeal after the full ruling is issued on 29 April. The couple's legal troubles began in 2016, shortly after Ollanta Humala left office. A year later, they were detained during a preliminary investigation. While released in 2018, the judicial probe continued, culminating in the verdict this week. Nadine Heredia's legal team noted she had been refused prior requests to leave Peru for cancer treatment. Brazilian officials have not disclosed further details about the asylum conditions. Ollanta Humala will serve his sentence at a police base that has housed other former Peruvian presidents. Alejandro Toledo and Pedro Castillo are currently imprisoned there, while Alberto Fujimori was released in 2023. The Lava Jato investigation has ensnared leaders across the region. In 2019, ex-president Alan García died by suicide as police attempted to arrest him over alleged Odebrecht-related bribery. Odebrecht's executives have testified that nearly every major presidential campaign in Peru over a 30-year span received funding from the company.
