- Braskem (BAK +2%) agrees to sell its chemical distributor quantiQ Distribuidora for 550M reais ($172M) to GTM Holdings, Latin America's leading independent distributor of chemical products.
- BAK, which recently signed a leniency deal with Brazilian and U.S. authorities over its involvement in Brazil's graft and bribery scandal, appears to be seeking to sell assets as it seeks to cut costs by 400M reais/year.
- BAK is jointly controlled by Brazil’s Odebrecht and Petrobras.