Novonor creditors, IG4 sign exclusivity agreement in Braskem talks, Valor reports

SAO PAULO, Aug 22 (Reuters) - Private equity firm IG4 Capital and banks holding shares in petrochemical Braskem BRKM3.SA as collateral for Novonor's debt signed an agreement for exclusivity in talks for 90 days, Valor Economico reported on Friday.

The report comes after a 90-day exclusivity period for Novonor, formerly Odebrecht, to sell a controlling stake in Braskem to Brazilian businessman Nelson Tanure expired without a deal.

Reuters reported, citing sources, that IG4 was working to launch a rival bid to purchase the controlling stake in Braskem, as it aims to consolidate Novonor's bank debt and exchange it for Braskem shares.