The European Commission issued a clearance decision for case M.12316 involving the proposed acquisition of joint control over Braskem by IG4 Group and Petrobras under Article 6(1)(b) of Council Regulation 139/2004. The Commission determined the concentration would not raise serious doubts as to its compatibility with the common market, permitting the merger to proceed. The transaction concerns the manufacture of organic basic chemicals and plastics in primary forms (NACE C.20.14 and C.20.16).

The parties to this transaction should verify their notification obligations are fully satisfied and proceed with any required post-closing filings in relevant jurisdictions. The simplified procedure indicates no competitive concerns were identified during the Phase 1 review, suggesting a straightforward path to completion in the EU. Transaction parties should coordinate with competition counsel to ensure compliance with any conditions attached to the clearance.