Braskem Enters New Shareholders' Agreement with Petrobras & FIP
Braskem S.A. announced a new shareholders' agreement between Petróleo Brasileiro S.A. (Petrobras) and Shine I Fundo de Investimento em Participações Responsabilidade Limitada (FIP), effective upon the closing of a related share transaction. This agreement establishes joint control, requiring consensus for Board and Shareholders' Meeting resolutions and ensuring equal representation in the appointment of directors and executive officers. Key provisions include a mutual right of first refusal, tag-along rights, and a lock-up period for FIP's share transfers tied to Braskem achieving a specific financial target. The agreement also outlines a commitment to migrate Braskem's shares to the Novo Mercado segment of B3 once the financial target is met.
Key Highlights
- Braskem entered a new shareholders' agreement between Petrobras and FIP on April 23, 2026.
- The agreement governs the joint exercise of control over Braskem by FIP and Petrobras.
- Requires consensus between FIP and Petrobras for all Board of Directors and Shareholders' Meeting resolutions.
- Parties will appoint an equal number of members to the Board of Directors and statutory management.
- The Board of Directors will consist of 11 members, including 3 Independent Directors, with rotating Chairperson/Vice-Chairperson.
- The Executive Board will have 8 officers, with CEO and Chief Corporate Affairs Officer positions rotating between parties.
- Includes mutual right of first refusal and tag-along rights for share transfers.
- FIP is subject to a lock-up period until Braskem achieves a Net Debt/EBITDA ratio of 2.5 or lower for three consecutive quarters.
- Parties commit to promoting Braskem's listing on the Novo Mercado segment of B3 upon achieving the financial target.