Brazil's Odebrecht places Braskem stake as collateral for lenders
SAO PAULO, July 19 (Reuters) - Braskem SA, Latin America's biggest petrochemical firm, said on Tuesday that controlling shareholder Odebrecht Serviços e Participações SA has placed its entire stake as collateral for loan contracts with creditors.
São Paulo-based Braskem, in which Odebrecht Serviços has a 38 percent stake but a 50.1 percent of the voting shares, disclosed the decision in a securities filing. Odebrecht Serviços is a subsidiary of Grupo Odebrecht SA, Latin America's largest engineering group. (Reporting by Guillermo Parra-; Bernal; Editing by Leslie Adler)
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