Abu Dhabi National Oil Company (ADNOC) has terminated discussions to acquire a stake in Brazilian petrochemicals producer Braskem, leading to a significant drop in Braskem's share value. Braskem's shares fell by 25% in US premarket trading and subsequently dropped another 15% following the announcement. Subsequently, Petrobras, another major stakeholder, is now awaiting offers from other potential suitors for Braskem and could exercise rights for a stake in the company.
#Brazil: Petrobras Waits on Offers From Braskemās Other Suitors, CEO Says Brazilian oil producer could exercise rights for Braskem stake Petrobras and Adnoc have āother thingsā apart from Braskem #oott https://t.co/6xV47c3VWA
Capsized barge in Tobago spill might have picked up fuel in Venezuela, Trinidad says #oott https://t.co/f8s5eFXjx2
Petrobras is waiting for other companies to make bids for a stake in petrochemicals producer Braskem after Adnoc pulled out of the running https://t.co/hYGZlNNv6e
#India's Reliance renews bid for US license to import Venezuelan oil, sources say #oott #Venezuela https://t.co/bBhnzGKqxz
Braskem shares drop 15% as ADNOC ends talks to buy stake #oott https://t.co/ZN2GiD92pU
ADNOC terminates talks to buy stake in Brazil's Braskem https://t.co/CAyIFtjEL2 https://t.co/SKTzcRGujO
Braskem tumbled 25% in US premarket trading after disclosing that Abu Dhabi National Oil is no longer pursuing a stake in the Brazilian petrochemicals producer https://t.co/tyOlPiTkb6
ADNOC terminates talks to buy stake in #Brazil's Braskem #oott https://t.co/T60G4X3iZn
Petrobras loads diesel from Reliance on crude tanker in #India after delay #oott https://t.co/XDWw8isaY2