Simpson Thacher Represents Banks in U.S.$1.2 Billion Bridge Loan to Braskem S.A.
04.16.07
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The Firm recently advised ABN AMRO, Calyon and Citigroup in connection with a U.S.$1.2 billion bridge loan to Brazilian petrochemical company Braskem S.A. to finance its acquisition of petrochemical assets of the Ipiranga Group and a portion of the minority interests in Copesul—Companhia Petroquímica do Sul. Braskem is participating in this acquisition together with Petróleo Brasileiro S.A., the Brazilian national oil company, and Ultrapar Participacoes S.A., a Brazilian LPG and fuel distribution company.
Braskem is the leading petrochemical company in Latin America and one of the largest industrial companies in Brazil.
The Simpson Thacher team for the transaction included George Miller, Glenn M. Reiter and Sebastian Cucullu.