What did Petrobras decide regarding its waiver rights over Novonor's sale of its controlling stake in Braskem?

Petrobras decided not to exercise its waiver rights regarding Novonor's sale of its controlling stake in Braskem, as stated in its securities filing on Thursday.

What key governance terms did Petrobras agree to with Shine I in the new shareholders agreement for Braskem?

Petrobras signed a new shareholders agreement with Shine I — the private equity fund controlled by IG4 Capital that acquired most of Novonor's stake — which includes an obligation to reach consensus on all board or shareholder meeting resolutions, and the right for both parties to appoint an equal number of members to Braskem's board and management.

Brazil's Petrobras Decides Not to Exercise Waiver Rights Over Novonor's Stake Sale in Braskem

Apr 23, 2026

Brazilian state-run oil firm Petrobras declined to exercise waiver rights regarding Novonor's controlling stake sale in petrochemical firm Braskem to private equity fund Shine I. A new shareholders agreement ensures equal board representation between parties.

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