GTM do Brasil Comércio de Produtos Químicos LTDA. signed an agreement to acquire quantiQ Distribuidora Ltda from Braskem S.A. (BOVESPA:BRKM5) for BRL 550 million on January 9, 2017. Out of total consideration, BRL 450 million will be paid upon closing and the remainder amount will be paid within 12 months after closing, subject to the adjustments. Advent International is providing equity financing to support the acquisition. GTM and quantiQ will begin to integrate operations after the closing of this transaction. During the transition process each company will continue to operate under its current legal name and continue with normal business operations. The transaction is subject to conditions precedent applicable to transactions of this kind, including approval by Brazil’s antitrust agency CADE. The Board of Directors of Braskem approved the transaction. As of January 30, 2017, CADE approved the acquisition. Banco Itau BBA S.A. acted as financial advisor while Lobo & de Rizzo Advogados acted as legal advisor to GMT. Gregory Tan of Shearman & Sterling LLP acted as legal advisor to Citibank.