Braskem, the leading company in the thermoplastic resins industry in Latin America and third largest Brazilian industrial company owned by the private sector, announces the results of the Public Offer to Acquire Common Shares in Companhia Petroquímica do Sul ("Copesul"). 

Braskem acquired 34,040,927 common shares of Copesul, representing 98.63% of the shares enrolled to participate in the offer made today, for R$ 38.02 (thirty-eight reais and two cents) per share. Financial settlement of the transaction will occur on October 10, 2007, with total disbursement of around R$ 1.3 billion.

Pursuant to legislation, after verifying compliance with the rules governing the Offer, the Brazilian Securities and Exchange Commission (CVM) will proceed with the cancellation of Copesul’s registration on the stock exchange. Until the effective delisting of the company, which should occur within 15 (fifteen) days from the receipt by the CVM of the communication from the São Paulo Stock Exchange (Bovespa) about the results of the offer, the Copesul shares will remain listed on the Bovespa.

Over the next 3 (three) months, the remaining shares may be acquired by the Company, as per the Notice for the Public Offer to Acquire Common Shares of Copesul, published on August 14, 2007. In addition, given that Copesul float is less than 5% (five percent), the board of directors of Copesul will call a general meeting of shareholders to deliberate on the redemption of these shares at the price offered at the public share offer.

According to Carlos Fadigas, Braskem’s CFO an Investor Relations Director, "the successful outcome of the offer represents an important step forward in the consolidation of the petrochemical assets of the Ipiranga Group and confirmed Braskem’s commitment to transparency and value creation for all shareholders, given the fact that shareholders considered the offer value fair and therefore accepted it".