Brazil Petrochem Goes Dark

Quattor Participacoes, the holding company for Bovespa listed petrochemicals producers Petroquimica Uniao, Unipar and Quattor Petroquimica, is taking the companies private. The controlling shareholder in the units says it is offering to purchase the shares of each company it doesn’t already own. Unipar preferred shares have fallen 62% since hitting a 2008 high in mid June of BRL2.98. Quattor does not specify reasons for going private and officials weren’t immediately available for comment.