Braskem Announces Investment Agreement

Jan 22, 2010, 09:49 ET from Braskem S.A.

SAO PAULO, Brazil, Jan. 22 /PRNewswire-FirstCall/ -- Braskem S.A. ("Braskem"), Odebrecht S.A. ("ODB"), Odebrecht Servicos e Participacoes S.A. ("OSP" and, jointly with ODB, "Odebrecht"), Petroleo Brasileiro S.A. - Petrobras ("PTB") and Petrobras Quimica S.A. - Petroquisa ("Petroquisa" and, jointly with PTB, "Petrobras" and, jointly with Odebrecht and Braskem, the "Companies"), announce, in accordance with and for the purposes of Article 157, Paragraph 4 of Federal Law 6,404/76 and Instruction 358/02 issued by the Securities and Exchange Commission of Brazil (CVM), that on today's date the Companies entered into an Investment Agreement ("Investment Agreement") to regulate the terms and conditions under which Odebrecht and Petrobras will consolidate their interests in Brazil's petrochemical sector by consolidating at Braskem the equity interests they hold in the sector.

The full version of the Material Fact is available on the Company's IR website at www.braskem.com.br/ir

For further information on the transaction, Braskem invites shareholders and investors to a webcast presentation with the Company's management to be held TODAY, January 22, at 11:00 a.m., accessible through its IR website.

For further information, please contact Braskem's Investor Relations Area:

    Luciana Paulo Ferreira, (+55 11) 3576-9178,
luciana.ferreira@braskem.com.br
    Roberta Pimphari Varella, (+55 11) 3576-9266,
roberta.varella@braskem.com.br

Marina Dalben, (+55 11) 3576-9716, marina.dalben@braskem.com.br

SOURCE Braskem S.A.



RELATED LINKS

http://www.braskem.com.br/ir