Braskem SA, Latin America's largest petrochemical company, reached a deal on Tuesday to purchase Solvay Indupa, the Argentine-Brazilian unit of Belgium's Solvay SA valued at $290 million, according to a securities filing. The filing confirmed a Reuters report earlier on Tuesday that Brazil's Braskem would acquire the plastic maker with plants in Brazil's Sao Paulo state and Argentina's Buenos Aires province.
Braskem SA, formerly Copene Petroquimica do Nordeste SA, is a Brazil-based company primarily engaged in the manufacture of basic petrochemical products. Shares of BAK fell by 0.74% or $-0.125/share to $16.76. In the past year, the shares have traded as low as $12.37 and as high as $18.58. On average, 272148 shares of BAK exchange hands on a given day and today's volume is recorded at 253066.
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