A Berkshire Hathaway, conglomerate of Warren Buffett, announced its Greater transaction in three years with the planned acquisition of Oxychem for $ 9.7 billion.
This will be the largest acquisition of Buffett since paying US $ 11.6 billion for the Alleghany, an insurance company, in 2022. Buffett, 95,
Oxychem is the chemical division of Occidental, a company in which Buffett is an important investor. About US $ 6.5 billion of the money agreement announced on Thursday (2) will be used to pay off the Occidental debt, overwhelmed $ 20 billion.
According to its website, Oxychem produces a variety of chemicals used in whey bags, pools and caustic soda, which is “fundamental for the production of pulp, paper and aluminum, and is used in battery recycling.”
“Oxychem has grown under Occidental and has become a well -managed, safe and top -notch business, and we are confident that the company and its employees will continue to thrive under the property of Berkshire Hathaway,” Vicki Hollub, CEO of Occidental, said in a press release.
Occidental actions rose less than 1% in pre-market negotiations. The agreement is expected to be completed in the fourth quarter of this year.
Translation revised by André Vasconcelos
