Petrochemicals

The Mexican company Braskem Idesa, which operates in the USA, has filed for bankruptcy (Chapter 11) and will reduce its massive debt from $2.5 billion to $1.6 billion.

Three years after an unsuccessful attempt to take control of Petrochemicals, businessman Michael Bobrov sold his 18% stake in the company for 107 million shekels. The transaction was executed at a discount of over 20% to the market price.