June 15, 2018 / 12:37 PM / 2 years ago

LyondellBasell says in talks on Braskem deal

June 15 (Reuters) - Plastic, chemicals and refining company LyondellBasell Industries NV has begun talks with the main shareholder of Brazilian petrochemical firm Braskem SA on a potential tie-up, the two companies said on Friday.

The controlling shareholder, Brazilian construction firm Odebrecht SA, which has previously denied receiving a proposal from LyondellBaseel Industries NV, said in the statement it had entered exclusive talks with Lyondell.

“The discussions are preliminary and no agreements have been reached,” the two companies said. “There can be no assurance the discussions will result in a transaction or on what terms any transaction may occur.” (Reporting by Laharee Chatterjee in Bengaluru; editing by Patrick Graham)

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