What was the São Paulo court's decision regarding Banco Safra's attempt to stop Braskem's sale to IG4 Capital?

The São Paulo court rejected Banco Safra's request to suspend the sale of Braskem's control to IG4 Capital. Although the judge acknowledged some credibility in Safra's arguments—specifically concerning the absence of a competitive bidding process and the lack of a control premium—the court ruled that Safra failed to demonstrate the risk of irreparable harm necessary to justify halting the transaction. This judicial decision effectively clears the path for the sale to proceed.

What major financial action is Braskem taking alongside the IG4 Capital sale?

Concurrently with the sale to IG4 Capital, Braskem is pursuing an out-of-court restructuring for its R$60 billion debt. This restructuring effort is directly tied to the broader corporate transition and is highlighted in the news as a key parallel development enabled by the court’s rejection of Safra’s injunction request.