Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Bernardo Gradin   Carlos Fadigas   CEO                  CFO
Forward-looking Statements This release contains forward-looking statements relating to the prospects of the business, est...
Strategic drivers    Creation of a world scale player    Diversification of feedstock supply    Scale increase and geograp...
Strategic direction                           Vision 2020 Braskem                       Leader in the Americas, rank      ...
Transaction Stages 1. Creation of BRK Investimentos Petroquímicos SA (BRK) holding Braskem’s common    shares from Odebrec...
Transaction Stages 4. Braskem merges Quattor shares, consolidating Petrobras/Petroquisa 40% interest in    Braskem:       ...
Assets to be acquired                                                               40.0%       Direct Subsidiaries       ...
Braskem post transaction    Key Financials (2009 LTM* ProForma):    Gross Revenue                 R$ 25.8 billion   Resins...
Quattor acquisition places Braskem as #1 resins producer in the Americas...                           Production capacity ...
... and in the global ranking, one of the  Top 10 in resins                           Production capacity of resins (PE, P...
Capital structure post transaction   High liquidity, with availability around R$9 billion   Capital structure with leverag...
Partnership in new projects                  700 kton/y PTA                 Suape: integration of the                  450...
Next steps    Implementation of the Transaction        Braskem’s Capital increase        Acquisition of Unipar stake in Qu...
Bernardo Gradin   Carlos Fadigas   CEO                  CFO
Upcoming SlideShare
Loading in …5
×

Presentation quattor acquisition

783 views

Published on

Published in: Business, Economy & Finance
  • Be the first to comment

  • Be the first to like this

Presentation quattor acquisition

  1. 1. Bernardo Gradin Carlos Fadigas CEO CFO
  2. 2. Forward-looking Statements This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Braskem. These are merely projections and, as such, are based exclusively on the expectations of Braskem’s management concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in Braskem filed disclosure documents and are, therefore, subject to change without prior notice. The securities offered have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The securities offered will not be registered in any other jurisdiction. This release does not constitute an offer to sell, or the solicitation of an offer to buy or subscribe for not shall there be any sale of or subscription for these securities in any state or jurisdiction in which such offer, solicitation, sale or subscription would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction 2
  3. 3. Strategic drivers Creation of a world scale player Diversification of feedstock supply Scale increase and geographic complementarities Strengthening of the production chain – petrochemicals and plastics Balanced capital structure Value creation for all shareholders Consolidation of Odebrecht and Petrobras shares in their activities in the petrochemical sector, strengthening Braskem and the Brazilian production chain to compete in the international market and ensuring the basis for global growth, consolidating the leadership in the Americas 3
  4. 4. Strategic direction Vision 2020 Braskem Leader in the Americas, rank among the 5 largest petrochemical companies worldwideSource: Braskem 4
  5. 5. Transaction Stages 1. Creation of BRK Investimentos Petroquímicos SA (BRK) holding Braskem’s common shares from Odebrecht (ODB) and Petroquisa (PTB), followed by a capital increase of R$ 3,5 billion, R$ 1 billion from ODB and R$ 2.5 billion from PTB ODB PTB Aportes ODB PTB ODB/PTB 66,8% 33,2% 53.8% 46.2% BRK BRK 2. Braskem capital increase through Private Offer between R$ 4.5 billion and R$ 5 billion, with a minimum subscription of R$ 3.5 billion assured by BRK. The Offer share price will be R$ 14.40 per share 3. Braskem acquires Unipar 60% stake of Quattor Participações for R$ 647.3 million in addition to suceed Unipar in a liability with BNDESPAR 5
  6. 6. Transaction Stages 4. Braskem merges Quattor shares, consolidating Petrobras/Petroquisa 40% interest in Braskem: Braskem 100% Quattor Participações 94,11% 65,98% 99,3% QQuímica RioPol QPetroquímica 25,00% RioPol 5,89% 9,02% permanecem com BNDESPar 5. Braskem acquires 33.3% of Polibutenos and 100% of Unipar Comercial for R$ 52.7 million These steps of the transaction are expected to be concluded in 120 days 6
  7. 7. Assets to be acquired 40.0% Direct Subsidiaries 50.0% 33.3% 60.0% 100.0% Participações Divisão Qu 94.11% 65.98% 99.30% Química Petroquímica ímica 5.89% 9.02%25.00% of RioPolremains withBNDESPar Source: Quattor 7
  8. 8. Braskem post transaction Key Financials (2009 LTM* ProForma): Gross Revenue R$ 25.8 billion Resins capacity (kton/y) Net Revenue R$ 19.4 billion 5,510 EBITDA R$ 2.9 billion Total Assets R$ 33.5 billion 510 *LTM: oct/08 to sep/09 1,965 PVC Profile: PP 26 petrochemical plants with 1st and 2nd generations integration: States of BA, RS, PE AL, SP, RJ Listed in 3 stock exchanges: 3,035 BM&FBovespa, NYSE and LatibexSource: Braskem / Company estimates 8
  9. 9. Quattor acquisition places Braskem as #1 resins producer in the Americas... Production capacity of resins in the Americas, kton/y 2009 basis 1st 5,510 5,307 4,827 510 1,230 4,256 4th 627 3,595 1,965 3,082 1,731 510 2,340 2,311 1,090 1,210 1,915 4,077 4,200 PVC 3,035 822 875 2,525 2,340 2,311 PP 1,995 1,050 1,040 PE Braskem Exxon Dow Lyondell Braskem Formosa Shintech Chevron Quattor post Mobil Basell Philips transactionSource: Braskem / CMAI / Barclays / Parpinelli Tecnon 9
  10. 10. ... and in the global ranking, one of the Top 10 in resins Production capacity of resins (PE, PP, PVC) worldwide, kton/y 2009 basis 10,914 9,311 8,668 7,749 7,284 7,109 6,541 12th 4,681 4,564 4,303 4,079 3,595 19th 1,915 Lyondell Exxon SINOPEC Dow Formosa SABIC Ineos Total IPIC Reliance PetroChina Braskem Quattor Basell Mobil 10,914 9,311 8,668 7,749 7,284 7,109 8th Braskem 6,541 5,510 post transaction Lyondell Exxon SINOPEC Dow Formosa SABIC Ineos Braskem Basell Mobil post transactionSource: Braskem / CMAI / Barclays / Parpinelli Tecnon 10
  11. 11. Capital structure post transaction High liquidity, with availability around R$9 billion Capital structure with leverage (net debt/EBITDA) around 3x Opportunity to extend maturities and reduce the cost of debt through renegotiation Estimated Capital Estimated Capital ProForma Increase R$4.5bi - Increase R$5bi - Sep 09 Acquisitions Acquisitions Availabilities 4,274 8,774 9,274 Gross Debt 17,470 17,470 17,470 Net Debt 13,197 8,697 8,197 Net Debt / EBITDA 4.55x 3.00x 2.83x Shareholders’ 7,270 11,770 12,270 equity 11
  12. 12. Partnership in new projects 700 kton/y PTA Suape: integration of the 450 kton/y PET petrochemical ComplexAll corporate 240 kton/y textiles polymers businesses into the Companyand contractual assetsinstrumentsshall be signed Comperj: production and 860 kton/y PEwithin 120 marketing of resins and basic 850 kton/y PPdays. petrochemicals 500 kton/y PTA 600 kton/y PET Maintaining financial solidity 700 kton/y PTX 608 kton/y Benzene 157 kton/y Butadiene 12
  13. 13. Next steps Implementation of the Transaction Braskem’s Capital increase Acquisition of Unipar stake in Quattor Merging of Quattor Participações interest Acquisition of 33% Polibutenos and 100% Unipar Comercial Analysis of the Transaction by CADE Financial strength and respect for minority shareholders Opportunities for internationalization 13
  14. 14. Bernardo Gradin Carlos Fadigas CEO CFO

×