OrganizationsOrganization

Braskem

BRKM3BRKM5BRKM6

The Americas' largest petrochemical firm, jointly controlled by IG4 and Petrobras (47% of voting capital). In out-of-court reorganization since August 24, 2026 to restructure billions in debt, with Mexican subsidiary Braskem Idesa in US Chapter 11.

3articles

8material mentions

2connections

Last 90 days

What sources are saying

Braskem's removal from B3's index portfolios, including the Ibovespa, took effect based on the August 25 close, under the out-of-court reorganization criterion. The case opened August 24 restructures about US$10.9 billion in debt; the framing — impasse or prior creditor adhesion — remains divided in coverage.

Updated September 25, 2026 · 3 verified articles

Market transmission

Why it matters

The stock and bonds track the reorganization's course — creditor adhesion, haircut and confirmation —, global petrochemical margins and the decisions of Petrobras and IG4 as controllers.

Explanatory mechanism, not a forecast or recommendation.

Articles in chronological order

CORPORATEBrazil

Court sides with creditors and suspends Braskem transfers to Braskem Idesa, including a US$ 415 million financing

The 2nd Bankruptcy and Reorganization Court of São Paulo granted on September 24 an injunction requested by Braskem creditors and suspended fund transfers from the petrochemical company to its Mexican subsidiary Braskem Idesa. The ruling affects a financing of about US$ 415 million and a US$ 71 million capital injection; creditors argue the transfers reduce the equity of the Brazilian company, which is under an out-of-court reorganization. According to Valor, the court also appointed a judicial administrator.

4 sourcesSep 24, 2026

CORPORATEBrazil

Petrobras rules out injecting funds or raising its stake in Braskem and says it expects a consensus with the petrochemical company creditors

Petrobras chief executive Magda Chambriard said on September 24 that there is no reason to talk about the state company injecting funds into Braskem and that nationalizing the petrochemical company is not within its scope. On the same day, a Petrobras director said the company believes there will be a consensus with Braskem creditors, as Braskem negotiates the restructuring of about US$ 11 billion in debt under an out-of-court reorganization. Creditors have been demanding a contribution from controlling shareholders Petrobras and IG4 as a condition for a deal.

6 sourcesSep 24, 2026

EMPRESASBrazil

Braskem files for out-of-court reorganization and B3 removes the stock from its indexes

Braskem filed for out-of-court reorganization on August 24, at São Paulo's 2nd Bankruptcy and Reorganization Court, on the day its creditor-protection injunction expired. Per NeoFeed, the debt to be restructured is US$10.9 billion. InfoMoney recorded that B3 will remove BRKM3 and BRKM5 from 18 index portfolios, including the Ibovespa, from August 25.

5 sourcesAug 24, 2026