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.

Court rejects Safra bid to halt Braskem sale to IG4

Jul 8, 2026

A São Paulo court rejected Banco Safra's attempt to suspend Braskem's sale to IG4 Capital, clearing the path for the transaction while Braskem pursues a R$60 billion debt restructuring.

Valor International

2026-06-07

Petrobras and IG4 establish new governance framework for Braskem

2026-06-09

Braskem names new management team after IG4 and Petrobras take joint control

2026-07-08

Court rejects Safra bid to halt Braskem sale to IG4

2026-07-28

Renewable bio-acetone can be made alongside U.S. ethanol

2026-07-28

Lallemand Biofuels & Distilled Spirits and Braskem Announce Bio-Acetone as a Coproduction Opportunity in Ethanol Facilities