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Brazil: Cade OK with chemical joint venture

 |  March 7, 2014

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

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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