(Reuters, 6.Jul.2020) — Brazilian state-led oil company Petrobras expects within six months to reach an understanding with engineering group Odebrecht on a new shareholder agreement for petrochemical company Braskem SA , the oil firm’s CEO said Monday.
Roberto Castello Branco, chief executive of Petroleo Brasileiro SA, as the company is formally known, said during a webinar the new accord would convert preferred shares to common shares, letting Petrobras sell its Braskem stake more easily.
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Reporting by Sabrina Valle Editing by Brad Haynes
