Braskem SA, Latin America's largest petrochemical company, agreed to purchase the Argentine Solvay Indupa unit of Belgium's Solvay SA for an unspecified amount, a source with knowledge of the deal said on Tuesday. Details of the transaction are likely to be announced later on Tuesday, the source, who declined to be named given the sensitivity of the matter, told Reuters.
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 0.41% or $-0.07/share to $16.81. 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 176768.
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