Annual Reports

 
Other

  • 6-K (Dec 1, 2017)
  • 6-K (Nov 29, 2017)
  • 6-K (Nov 28, 2017)
  • 6-K (Nov 16, 2017)
  • 6-K (Nov 15, 2017)
  • 6-K (Nov 13, 2017)
Braskem SA 6-K 2017

Documents found in this filing:

  1. 6-K
  2. 6-K
bak20170707_6k.htm - Generated by SEC Publisher for SEC Filing
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 

 
FORM 6-K
 
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16
OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934


For the month of July, 2017

(Commission File No. 1-14862 )

 

 
BRASKEM S.A.
(Exact Name as Specified in its Charter)
 
N/A
(Translation of registrant's name into English)
 


Rua Eteno, 1561, Polo Petroquimico de Camacari
Camacari, Bahia - CEP 42810-000 Brazil
(Address of principal executive offices)



Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ___X___       Form 40-F ______

Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1). _____

Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7). _____

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ______       No ___X___

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _____.


 
 

NOTIFICATION OF RELATED-PARTY TRANSACTIONS

 

 

Parties

Braskem S.A. (“Braskem”) and Petroleo Brasileiro S.A. (“Petrobras”)

 

Relationship with the issuer

Braskem and Petrobras are associated companies. Petrobras holds a 47.03% interest in the voting capital and a 36.11% interest in the total capital of Braskem.

Purpose

Execution of an Extrajudicial Transaction between Braskem and Petrobras (“TEJ”)

Main terms and conditions

(i)            Recognition and settlement of commercial debits in the approximate amount of R$32 million of Braskem against Petrobras;

(ii)           Recognition and settlement of tax liabilities in the amount of approximately R$56 million of Petrobras against Braskem;

Agreement execution date

06/28/2017

Any participation by the counterparty, its partners or managers in the issuer’s decision-making process or in the negotiation of the transaction as representatives of the issuer

Not applicable

 

Detailed justification of the reasons why the management of the issuer believes the transaction was carried out on an arm’s length basis or involves adequate compensatory payment

Braskem and Petrobras recognized their pendencies and negotiated to reach a fair resolution, which resulted in the TEJ, which settles past pendencies and avoids future litigation related to them.

 

 

 

 

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: July 7, 2017
  BRASKEM S.A.
 
 
  By:      /s/     Pedro van Langendonck Teixeira de Freitas
 
    Name: Pedro van Langendonck Teixeira de Freitas
    Title: Chief Financial Officer

 

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.


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