This excerpt taken from the PBR 6-K filed Apr 15, 2009.
II THE TRANSACTION
On April 07, 2009, Braskem and Triunfo executed the Protocol and Justification of Merger of Triunfo into Braskem (Protocol and Justification of Merger), whereby Braskem will take over the net assets of Triunfo, and will succeed to it in all its rights and obligations (Merger).
The proposal of Merger was approved on April 14, 2009 by the Board of Directors of Braskem, and the general meeting of shareholders of Braskem was authorized to be convened to approve the Merger. Furthermore, the Fiscal Board of Braskem expressed itself favorably to the Merger, at a meeting held on April 14, 2009. The Merger also obtained the necessary corporate approvals from Petroquisa and Petrobras, the direct and indirectly controlling companies of Triunfo, respectively. The Board of Directors and Fiscal Board of Triunfo were called to meet next April 17th.