January 19, 2018 / 9:21 PM / 4 months ago

Braskem shareholders agree on migration to single class of stock- filing

SAO PAULO, Jan 19 (Reuters) - Brazil state-controlled oil company Petroleo Brasileiro SA and construction conglomerate Odebrecht SA have agreed on a transaction to migrate all Braskem shares into a single class of stock, the oil company said in a securities filing on Friday.

Petrobras said the objective is to improve Braskem’s corporate governance through the transaction. Currently, Braskem has common and preferred shares, and would have only common shares. (Reporting by Tatiana Bautzer Editing by Chizu Nomiyama)

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