Brazil Petrochem Ready to Delist After Buyback

Quattor Participacoes, the holding company for petrochemicals producer Petroquimica Uniao, has repurchased 95.33% of Uniao’s outstanding shares for BRL271.6m. It paid BRL15 each for 6.5m ordinary and 11.1m preferred shares. Quattor plans to delist Uniao, now that it possesses more than 99% of the share capital. Uniao’s ordinary shares closed Wednesday at BRL15.39.