Braskem is set to strike a deal with its creditors, according to a Petrobras executive.
A Petrobras board member working with Braskem mentioned the possibility of Brazilian petrochemicals negotiating with creditors to reorganize approximately $11 billion in debts and preventing a need for court-supervised recovery. No definitive action has been decided regarding potential state funding for Braskem, stated William France, Petrobras’ Director of Industrial Processes, during a conference in Rio…