Braskem (BAK) announced that it has retained financial and legal advisors to support the company in “preparing a diagnosis of economic-financial alternatives to optimize its capital structure.” It added, “The company reinforces its commitment to its stakeholders and remains focused on implementing transformation initiatives to mitigate the significant impacts resulting from the prolonged downturn across the entire industry and to strengthen the competitiveness of the Brazilian chemical industry.” Shares of Braskem are down 6% to $2.88 in premarket trading.
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