Braskem Owner Novonor Is Close to a Deal to Sell Its Stake to IG4

The entrance of the Braskem petrochemical plant in Duque de Caxias, Brazil, in 2023. — The entrance of the Braskem petrochemical plant in Duque de Caxias, Brazil, in 2023.
Photographer: Maria Magdalena Arrellaga/Bloomberg

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By Cristiane Lucchesi, Matheus Piovesana, Rachel Gamarski, and Martha Beck

November 11, 2025 at 1:42 AM UTC

Novonor SA is close to a deal with creditors to sell its controlling stake in Braskem SA, one of the world’s largest petrochemical companies, to a fund run by asset manager IG4 Capital, according to people familiar with the matter.

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