Braskem (BRKM5) stated on Friday (26) that it has enlisted financial and legal experts to assess choices for its financial framework. This decision comes during a period of decreased activity in the worldwide petrochemical market, expected by the company to persist for a number of years.
Braskem employed financial and legal experts to help assess economic and financial options for improving its capital structure, as reported by InfoMoney.
Idesa may acquire Braskem with Slim involved in the process.
Braskem (BRKM5) has reportedly announced to Reuters that it has enlisted advisors for its joint venture Braskem Idesa with Mexican group Idesa to assist with financial strategies.
Lazard Inc., Cleary Gottlieb Steen & Hamilton LLP, and Sainz Abogados were hired on Monday to assess options and review the company’s current capital structure and liquidity situation.
Braskem Idesa’s decision shows their ongoing commitment to enhancing financial stability and performance despite economic uncertainties, volatile prices, increased costs, and lower demand compared to expectations.
The partnership concluded the second quarter with a production capacity utilization rate of 44%, a decrease of 78% from the previous year, due to issues in sourcing raw materials from the Mexican state oil company Pemex, as stated in the quarterly results report.
Every three months
The company experienced a negative operational result of $11 million in Ebitda and had $100 million in cash during the period.
The company does not have any significant debt payments until 2029, when they will receive $995 million. In 2032, Braskem Idesa is expected to have outstanding salaries totaling $1.2 billion, based on company information. This data shows that as of July, the company had a net debt to Ebitda leverage ratio of 9.1.
- Businesses in the Bag
- Business operations
- Braskem stock with the ticker symbol BRKM5
- Marketplace
