Clifford Chance Advises Braskem on its Purchase of Sunoco Chemicals

NEW YORK, April 1 /PRNewswire/ -- Clifford Chance US LLP is advising Braskem S.A. (NYSE: BAK), the eighth-largest thermoplastic resin producer in the world and the largest in the Americas, on its purchase of Sunoco, Inc.'s (NYSE: SUN) polypropylene business for approximately $350 million.  

The acquisition, which closed today, makes Braskem one of the world's largest producers of polypropylene and furthers Braskem's strategy to establish an industrial base in the United States and to build a foundation for future international expansion.  As a result of today's acquisition, Braskem's production capacity for thermoplastic resins now stands at more than 14 billion pounds annually.  

Clifford Chance partners Ben Sibbett and Anthony Oldfield are leading the Clifford Chance team, which consists of lawyers in the firm's New York, Sao Paulo and Washington DC offices.

SOURCE Clifford Chance

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