News

Material Fact - Asset Sale

BRASKEM S.A.
Corporate Taxpayer ID (CNPJ): 42.150.391/0001-70
Company Registry (NIRE): 29.300.006.939
Publicly Held Company
 
MATERIAL FACT

 

Braskem S.A. ("Company"), in compliance with CVM Instruction 358/02, announces to its shareholders and the market that it signed, on the date hereof, a sales agreement with GTM do Brasil Comércio de Produtos Químicos LTDA. a subsidiary of GTM Holdings S.A. ("GTM"), through which it undertakes to sell 100% of the ownership interests representing the capital of quantiQ Distribuidora Ltda. ("quantiQ"). 

The transaction is worth R$550 million, of which R$450 million will be paid upon consummation of the sale and the remainder within 12 months, subject to the adjustments typical to transactions of this kind. The divestment of quantiQ is aligned with the Company's strategy to strengthen its petrochemical operation. 

quantiQ is one of Brazil's largest chemical product distributors, with four distribution centers and seven logistics centers. It serves over 50 market segments, including commodities and speciality chemicals. 

GTM is one of the largest chemical distributors in Latin America, with operations in Brazil, Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Colombia, Ecuador, Peru and Argentina. It is a subsidiary of Advent International, one of the world's largest private equity companies.

The consummation of the sale is subject to conditions precedent applicable to transactions of this kind, including approval by Brazil's antitrust agency CADE (Conselho Administrativo de Defesa Econômica). 

The Company will keep the market informed of any significant developments related to this matter.

 

São Paulo, January 10, 2017

 

Pedro Van Langendonck Teixeira de Freitas
Chief Financial and Investor Relations Officer
Braskem S.A.