OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of February, 2008
(Commission File No. 1-14862 )
Camacari, Bahia - CEP 42810-000 Brazil
Form 20-F ___X___ Form 40-F ______
in paper as permitted by Regulation S-T Rule 101(b)(1). _____
in paper as permitted by Regulation S-T Rule 101(b)(7). _____
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ______ No ___X___
BRASKEM ANNOUNCES THE CONCLUSION OF THE ACQUISITION OF
IPIRANGA GROUP PETROCHEMICAL ASSETS
São Paulo, February 27, 2008 - Braskem (BOVESPA: BRKM5; NYSE: BAK; LATIBEX: XBRK) (the “Company”), the leading company in the thermoplastic resins industry in Latin America and the third-largest petrochemical producer in the Americas, announces that 60% of the petrochemical assets of the Ipiranga Group, consisting of the 60% interest in Ipiranga Química, were effectively transferred to the Company.
As a result of the transaction, Braskem now holds a direct interest of 60% in Ipiranga Química, an indirect interest of 60% in Ipiranga Petroquímica, and a direct and indirect interest of 62.7% in Copesul. The remaining 40% of Ipiranga Química were delivered to Petrobras.
The conclusion of the acquisition of these petrochemical assets allows for the implementation of the Investment Agreement entered into with Petrobras last November. Through this agreement Petrobras and Petroquisa interests, corresponding to 40% of the petrochemical assets of Ipiranga, 40% of Petroquímica Paulínia, as well as the option to incorporate Petroquímica Triunfo, will be incorporated into Braskem, in exchange for approximately 103.4 million shares of Braskem.
According to Braskem CEO José Carlos Grubisich, “The conclusion of this transaction represents an important step in the consolidation of the Brazilian petrochemical industry and will enable Braskem to accelerate the capture of synergies, estimated at US$1.1 billion in net present value.”
Braskem, a world-class Brazilian petrochemical company, is the leader in the thermoplastic resins segment in Latin America, and is the third largest Brazilian industrial company owned by the private sector. The company operates 18 manufacturing plants located throughout Brazil, and has an annual production capacity of more than 10 million tons of petrochemical and chemical products. |
Forward-Looking Statement Disclaimer for U.S. Securities Law Purposes
This press release contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are only predictions and are not guarantees of future performance. Investors are cautioned that any such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the perations and business environments of Braskem and its subsidiaries that may cause the actual results of the companies to be materially different from any future results expressed or implied in such forward-looking statements.
Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the risks and uncertainties set forth from time to time in Braskem reports filed with the United States Securities and Exchange Commission. Although Braskem believes that the expectations and assumptions reflected in the forward-looking statements are reasonable based on information currently available to Braskem management, Braskem cannot guarantee future results or events. Braskem expressly disclaims a duty to update any of the forward-looking statements.
| For further information visit our website at www.braskem.com.br/ri or contact the IR team: | ||||
| Luciana Ferreira | Luiz Henrique Valverde | Silvio Nonaka | ||
| IR Manager | IRO | IR Manager | ||
| Phone: (+55 11) 3576 9178 | Phone: (+55 11) 3576 9744 | Phone: (+55 11) 3576 9471 | ||
| luciana.ferreira@braskem.com.br | luiz.valverde@braskem.com.br | silvio.nonaka@braskem.com.br | ||
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: February 27, 2008
| BRASKEM S.A. | |||
| By: | /s/ Carlos José Fadigas de Souza Filho | ||
| Name: | Carlos José Fadigas de Souza Filho | ||
| Title: | Chief Financial Officer | ||
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will a ctually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.