Braskem shareholders face mandatory tender offer after Shine I takes control stake
BAK•Shine I acquired 50.11% of Braskem’s voting capital from NSP Investimentos in a deal signed April 17, 2026. A unified tender offer is set for Oct. 16, 2026, for up to 12,907,078 common shares and 222,004,480 preferred Class A shares.
1. Control stake acquired
Shine I FIP acquired control of Braskem through a deal signed April 17, 2026, with NSP Investimentos. The stake comprised 226,334,622 common shares and 47,294,173 preferred Class A shares, representing 50.11% of voting capital. Consideration was paid entirely in NSP’s second-issue debêntures: 547,257,590 OSPI12 and 273,628,795 OSPI22.
2. Tender offer terms
A unified tender offer is set for Oct. 16, 2026, to buy up to 12,907,078 common shares and 222,004,480 preferred Class A shares. The consideration matches the control deal: two OSPI12 debêntures and one OSPI22 debênture per tendered share.
