Core Viewpoint - Brazil's anti-trust regulator CADE has approved IG4 Capital's acquisition of a controlling interest in Braskem from Novonor, marking a significant shift in ownership within the petrochemical sector [1][2]. Group 1: Acquisition Details - The deal is valued at approximately 20 billion reais, involving credit secured by Braskem shares held by major Brazilian banks [2]. - IG4 Capital will share control of Braskem with Petrobras, which is the second-largest shareholder, while Novonor will retain a minor 4% stake in the company [3]. - The acquisition will involve a debt-to-equity swap, allowing IG4 to gain control without a direct share purchase [3]. Group 2: Regulatory Approval Process - CADE's approval is set to become official unless an appeal is filed within 15 days by any third party or CADE's administrative tribunal [2]. - The ruling also permits the acquisition of Novonor-linked credit rights by Shine I FIDC, which is backed by Braskem shares and is part of Novonor's asset restructuring plan [4]. - CADE conducted a thorough review starting in February due to concerns about the implications of integrating an investment fund into Braskem's capital structure [5]. Group 3: Novonor's Financial Strategy - Novonor is undergoing judicial recovery and aims to divest most of its holdings in Braskem while keeping a small stake as part of its recovery strategy [6].