Concentration Notification Case M.12316 IG4 GROUP PETROBRAS BRASKEM

EUR-Lex Official Journal C-series

Published March 23rd, 2026

Detected March 23rd, 2026

Summary

The European Commission has published a prior notification of a concentration (Case M.12316) involving IG4 GROUP, PETROBRAS, and BRASKEM. This case has been identified as a candidate for the simplified procedure.

View original document View source feed page

What changed

This document serves as a public notification regarding a proposed business concentration, identified as Case M.12316, involving IG4 GROUP, PETROBRAS, and BRASKEM. The European Commission has designated this case as a candidate for a simplified procedure, indicating that it is likely to meet the criteria for expedited review under EU competition law.

For the involved parties, this notification signifies the commencement of the merger review process. Companies should ensure all required documentation is submitted promptly to facilitate the simplified procedure. While this notification itself does not impose new compliance obligations, it is a procedural step in assessing potential impacts on competition within the European Union. No specific compliance deadlines or penalties are detailed in this notice, as it pertains to the initial filing stage.

What to do next

Ensure all required documentation for the simplified procedure is submitted promptly.

Source document (simplified)

EUR-Lex Access to European Union law This document is an excerpt from the EUR-Lex website

EUROPA
EUR-Lex home
EUR-Lex - C_202601839 - EN

Help

- Print

Menu Search tips Need more search options? Use the Advanced search Document C_202601839

Help

- Print

Prior notification of a concentration (Case M.12316 – IG4 GROUP / PETROBRAS / BRASKEM) – Candidate case for simplified procedure

PUB/2026/288

OJ C, C/2026/1839, 23.3.2026, ELI: http://data.europa.eu/eli/C/2026/1839/oj (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)

ELI: http://data.europa.eu/eli/C/2026/1839/oj

Expand all Collapse all Languages, formats and authentic version

BG
ES
CS
DA
DE
ET
EL
EN
FR
GA
HR
IT
LV
LT
HU
MT
NL
PL
PT
RO
SK
SL
FI
SV HTML EN
BG
ES
CS
DA
DE
ET
EL
EN
FR
GA
HR
IT
LV
LT
HU
MT
NL
PL
PT
RO
SK
SL
FI
SV PDF - authentic OJ EN
BG
ES
CS
DA
DE
ET
EL
EN
FR
GA
HR
IT
LV
LT
HU
MT
NL
PL
PT
RO
SK
SL
FI
SV e-signature EN
BG
ES
CS
DA
DE
ET
EL
EN
FR
GA
HR
IT
LV
LT
HU
MT
NL
PL
PT
RO
SK
SL
FI
SV How to verify the authenticity of the Official Journal Multilingual display

English (en) Bulgarian (bg) Spanish (es) Czech (cs) Danish (da) German (de) Estonian (et) Greek (el) English (en) French (fr) Irish (ga) Croatian (hr) Italian (it) Latvian (lv) Lithuanian (lt) Hungarian (hu) Maltese (mt) Dutch (nl) Polish (pl) Portuguese (pt) Romanian (ro) Slovak (sk) Slovenian (sl) Finnish (fi) Swedish (sv) Please choose Bulgarian (bg) Spanish (es) Czech (cs) Danish (da) German (de) Estonian (et) Greek (el) English (en) French (fr) Irish (ga) Croatian (hr) Italian (it) Latvian (lv) Lithuanian (lt) Hungarian (hu) Maltese (mt) Dutch (nl) Polish (pl) Portuguese (pt) Romanian (ro) Slovak (sk) Slovenian (sl) Finnish (fi) Swedish (sv) Please choose Bulgarian (bg) Spanish (es) Czech (cs) Danish (da) German (de) Estonian (et) Greek (el) English (en) French (fr) Irish (ga) Croatian (hr) Italian (it) Latvian (lv) Lithuanian (lt) Hungarian (hu) Maltese (mt) Dutch (nl) Polish (pl) Portuguese (pt) Romanian (ro) Slovak (sk) Slovenian (sl) Finnish (fi) Swedish (sv) Display Text

| | Official Journal
of the European Union | EN

C series |

| | C/2026/1839 | 23.3.2026 |
Prior notification of a concentration

(Case M.12316 – IG4 GROUP / PETROBRAS / BRASKEM)

Candidate case for simplified procedure

(Text with EEA relevance)

(C/2026/1839)

On 11 March 2026, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1). This notification concerns the following undertakings:

| — | IG4 Capital Partners Holding General Partner Ltd (together with its controlled entities ‘IG4 Group’, Jersey), |

| — | Petróleo Brasileiro S.A. (‘Petrobras’, Brazil), |

| — | Braskem S.A. (‘Braskem’, Brazil). |
IG4 Capital Partners Holding General Partner Ltd, through affiliated entities of Shine Equity LP advised by the IG4 Group, and Petrobras will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Braskem.

The concentration is accomplished by way of purchase of shares.

The business activities of the undertakings concerned are the following:
| — | IG4 Group is an alternative investment manager focused on emerging markets with a strategy centred on complex financial and operational restructurings and special situations. |

| — | Petrobras is a mixed-capital oil and gas company that owns and operates 10 refineries in Brazil, predominantly in the Southeast. |
3.

The business activities of the undertaking Braskem are the following: Braskem operates an integrated, global petrochemical platform spanning the Americas, Europe, and Asia.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2), it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

The Commission invites interested third parties to submit their possible observations on the proposed concentration to the Commission. Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.12316 – IG4 GROUP / PETROBRAS / BRASKEM

Observations can be sent to the Commission by email or by post. Please use the contact details below:

Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:

(2) OJ C 160, 5.5.2023, p. 1.

ELI: http://data.europa.eu/eli/C/2026/1839/oj

ISSN 1977-091X (electronic edition)

Top