LyondellBasell is planning to acquire Brazilian petrochemical giant Braskem, that would make the Houston company the world’s largest producer of two common plastics.
As per report, LyondellBasell said that it has begun discussions with Brazilian construction firm Odrebecht, Braskem's controlling shareholder, regarding a potential merger. A deal has not been reached.
The companies said in a joint statement that the “potential combination of LyondellBasell's and Braskem's complementary strengths, product portfolios and operational footprints" would benefit both companies and their shareholders.
