Braskem Owner Novonor and IG4 Advance in Deal for Stake Sale
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Troubled conglomerate Novonor SA is closer to a deal to sell its controlling stake in petrochemical giant Braskem SA to a fund advised by asset manager IG4 Capital.The conglomerate — formerly known as Odebrecht — and a fund advised by IG4 signed a binding agreement with creditor banks to buy all of Novonor’s debt backed by Braskem shares, according to a filingBloomberg Terminal Monday.