Adnoc had made a non-binding offer in November, but is no longer interested in carrying out that transaction, as reported by Braskem this Monday in a statement.

The Abu Dhabi national oil company (Adnoc) has reported that it is no longer interested in continuing the analysis and negotiation process with Novonor (formerly Odebrecht) regarding the potential purchase of its majority stake in the petrochemical company. Brazilian Braskem.

Adnoc had made a non-binding offer in November, but is no longer interested in carrying out that transaction, as reported by Braskem this Monday in a statement.

However, according to the petrochemical company, Novonor remains "fully committed" to trying to sell its stake, "in line with the commitment made to its related parties."

Novonor has been trying to sell the stake to appease its creditors in an on-again, off-again process that has dragged on for years.

According to this information, Braskem has plummeted more than 14% on the stock market at the beginning of the stock market session this Monday. Specifically, the company's shares have fallen 14.49%, until trading at a price of 19.71 Brazilian reals (US$ 3.88).