Cypress advised Braskem S.A. on the purchase of 61.1% of Wise’s shares, a Brazilian company which operates in the recycling sector. The transaction is subject to the approval of the competent authorities and other precedent conditions established between the parties.
Wise is headquartered in Itatiba-SP and has been operating in the mechanical recycling sector for 15 years, with capacity to recycle approximately 25 thousand tons of plastic waste per year.
This transaction is aligned with Braskem’s Macro Goal of Plastic Waste Elimination, which also includes projects focused on education, recycling infrastructure, mechanical recycling and advanced recycling. Furthermore, this acquisition collaborates in accelerating the development of the chain and leveraging the recycling sector in Brazil.