(Commission File No. 1-14862 )
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___
NOTICE ON RELATED-PARTY TRANSACTIONS
|
Parties |
Braskem S.A. (“Braskem” or “Seller”) and Petrobras S.A. – REFAP (Refinaria Alberto Pasquale) CNPJ nº 33.000.167/0001-01 |
|
Relation with the issuer |
Petrobras holds a 47.03% interest in Braskem’s voting capital and 36.11% of its total capital |
|
Object |
Contract for the purchase and sale of propylene (polymer grade), with duration of 05 years, in which Petrobras is the supplier of the product. |
|
Main terms and conditions |
Agreement provides annual supply of 108,000 tons of propylene (polymer grade) by REFAP |
|
Date of contract signature |
November 1, 2016 |
|
Eventual participation of the other party, its partners or administrators in the issuer’s decision process or in the negotiation of the transaction as representatives of the issuer |
Petrobras, its partners and administrators did not participate in the negotiations as representatives of the issuer. |
|
Detailed justification on the reasons why the issuer’s management believes that the transaction complied with commutative conditions or provides for proper compensatory payment |
Braskem and Petrobras negotiated the commercial, operational and quality conditions for the purchase and sale of propylene (polymer grade), which are compatible with the alternatives of production and commercialization practiced in the Brazilian market, using international references for the Propylene Agreement (polymer grade) and, as such, ensuring the commutativity of the operation for both parties. |
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: November 11, 2016| BRASKEM S.A. | |||
| By: | /s/ Pedro van Langendonck Teixeira de Freitas | ||
|
| |||
| Name: | Pedro van Langendonck Teixeira de Freitas | ||
| Title: | Chief Financial Officer | ||
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.