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Brazil: Cade OK with chemical joint venture

By  |  March 7, 2014

Brazil’s antitrust authority CADE gave clearance to the proposed joint venture between two chemical companies, say reports.

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    Styrene maker Styrolution and petrochemical firm Braskem can proceed with their plans, first agreed upon last October, that sees the two building a styrenics plans.

    Reports say the companies look to start building the plant as early as next year.

    Under terms of the deal, Germany’s Styrolution would hold a 70 percent stake in the project, with Brazil-based Braskem holding the rest.

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