World & BusinessPetrobras CEO rules out a larger Braskem stake amid debt talks
Bloomberg reports that Petrobras CEO Magda Chambriard ruled out raising the oil producer’s stake in Braskem, saying any additional capital must be matched by other investors.
TLDR
Bloomberg reports that Petrobras CEO Magda Chambriard ruled out increasing the company’s Braskem stake and said other investors must match any additional capital. The outlet also reports that a Petrobras executive on Braskem’s board expects the Brazilian petrochemicals producer to reach a deal with creditors to restructure about $11 billion in debt and avoid a bankruptcy filing.
Petrobras CEO rules out a larger Braskem stake amid debt talks
Bloomberg reports that Petrobras CEO Magda Chambriard ruled out raising the oil producer’s stake in Braskem, saying any additional capital must be matched by other investors.
TLDR
Bloomberg reports that Petrobras CEO Magda Chambriard ruled out increasing the company’s Braskem stake and said other investors must match any additional capital. The outlet also reports that a Petrobras executive on Braskem’s board expects the Brazilian petrochemicals producer to reach a deal with creditors to restructure about $11 billion in debt and avoid a bankruptcy filing.