OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of May, 2018
(Commission File No. 1-14862 )
Camacari, Bahia - CEP 42810-000 Brazil
Form 20-F ___X___ Form 40-F ______
in paper as permitted by Regulation S-T Rule 101(b)(1). _____
in paper as permitted by Regulation S-T Rule 101(b)(7). _____
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___
NOTIFICATION ON RELATED PARTY TRANSACTIONS
|
Parties |
Braskem S.A. (“Braskem”) and Liquiport Vila Velha S.A. (“Liquiport”) |
|
Relationship with the issuer |
Liquiport is a wholly-owned subsidiary of Odebrecht Transport S.A., a subsidiary of Odebrecht S.A., which in turn is the indirect parent company of the Issuer. |
|
Subject |
Agreement for the rendering of caustic soda movement and storage services |
|
Main terms and conditions |
Duration of ten (10) years, starting on May 12, 2018, with the agreement able to be terminated by means of a written notice to the other Party, under the situations provided for in the agreement: The aggregate amount of the agreement is estimated at ninety-three million reais (R$93,000,000.00).
|
|
Date of signing of agreement |
05/12/2018 |
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Any participation by the counterparty, its partners or managers in the issuer’s decision-making process or in the negotiation of the transaction as representatives of the issuer |
Not applicable |
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Detailed justification of the reasons why the management of the issuer believes the transaction was carried out on an arm’s length basis or involves adequate compensatory payment |
Braskem conducted a market analysis of movement and storage services considering other service providers in the region, as well as storage options in other regions with transportation to the region of the State of Espírito Santo. However, no other option proved more competitive than the agreement with Liquiport. |
1
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: May 22, 2018| BRASKEM S.A. | |||
| By: | /s/ Pedro van Langendonck Teixeira de Freitas | ||
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| 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.