Braskem (NYSE: BAK) wins CADE green light on potential Novonor stake deal

Rhea-AI Filing Summary

Braskem S.A. reports that Brazil’s antitrust authority CADE’s General Superintendence approved without restrictions a concentration act related to a potential transaction that would bring a private equity investment fund advised by IG4 Sol Ltda. into the company’s shareholder base.

The fund would become a direct and/or indirect shareholder by assuming the equity interest currently held by Novonor S.A. – Em Recuperação Judicial, linked to credits acquired by Shine I FIDC that are secured by Braskem shares. After publication of the decision, a 15-day period opens for possible review by CADE’s Tribunal, and Braskem notes that further information on conditions precedent and next steps will be disclosed as it is received from the involved parties.

Insights

Latin America corporate governance analyst

CADE’s unconditional clearance advances a potential change in Braskem’s key shareholder base, but the deal is not yet closed.

The approval by CADE’s General Superintendence of the concentration act tied to Novonor’s Braskem stake transfer removes an important antitrust hurdle. The potential entry of a private equity investment fund advised by IG4 Sol Ltda. could reshape Braskem’s ownership structure and governance dynamics once completed.

However, a 15-day window now allows CADE’s Tribunal to review the decision, and the transaction itself still depends on conditions precedent and steps involving Novonor, the fund and Shine I FIDC. Future disclosures from these parties and Braskem will clarify whether the stake transfer proceeds and how it may affect corporate control.

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16
OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of March, 2026

(Commission File No. 1-14862 )

BRASKEM S.A.

(Exact Name as Specified in its Charter)

N/A

(Translation of registrant's name into English)

Rua Eteno, 1561, Polo Petroquimico de Camacari
Camacari, Bahia - CEP 42810-000 Brazil

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ___X___       Form 40-F ______

Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1). _____

Indicate by check mark if the registrant is submitting the Form 6-K
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___

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _____.

 

BRASKEM S.A.

Corporate Taxpayer ID (CNPJ): 42.150.391/0001-70

Company Registry: 29.300.006.939

Publicly Held Company

MATERIAL FACT

Braskem S.A. (“Braskem” or the “Company”) (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), in continuity with the Material Fact disclosed on December 23, 2025, hereby informs its shareholders and the market in general that it became aware, through the website of the Administrative Council for Economic Defense (CADE), that CADE’s General Superintendence (Superintendência Geral) issued a Decision (Despacho), through which it decided to approve, without restrictions, the Concentration Act related to the potential transaction involving the entry of a certain Private Equity Investment Fund (Fundo de Investimento em Participações, “FIP”), under the specialized consulting of IG4 Sol Ltda. (part of the IG4 Group), as a direct and/or indirect shareholder of the Company, by assuming the equity interest currently held by Novonor S.A. – Em Recuperação Judicial (“Novonor”), as a result of the acquisition, by Shine I Fundo de Investimento em Direitos Creditórios de Responsabilidade Limitada (“Shine I FIDC”), of certain credits against companies of the Novonor Group, currently secured by a fiduciary assignment of Braskem shares (the “Transaction”).

Upon publication of such Decision, a 15-day period for a potential review by CADE’s Tribunal will commence.

Any additional information that may be received by the Company from Novonor, the FIP or Shine I FIDC regarding the potential Transaction, including with respect to the conditions precedent to its closing, will be disclosed by Braskem to the market in accordance with the applicable laws and regulations.

Additional information can be obtained from the Investor Relations Department by calling +55 11 3576 9531 or by e-mail braskem-ri@braskem.com.br.

São Paulo, March 6, 2026.

Felipe Montoro Jens

Chief Financial and Investor Relations Officer

Braskem S.A.

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: March 6, 2026

	BRASKEM S.A.
	By:	/s/     Felipe Montoro Jens
		Name:	Felipe Montoro Jens
		Title:	Chief Financial Officer

FORWARD-LOOKING STATEMENTS

This Material Fact may contain forward-looking statements. These statements are not historical facts, but rather are based on the current view and estimates of the Company's management regarding future economic and other circumstances, industry conditions, financial performance and results, including any potential or projected impact regarding the geological event in Alagoas and related legal procedures on the Company's business, financial condition and operating results. The words “project,” “believe,” “estimate,” “expect,” “plan”, “objective” and other similar expressions, when referring to the Company, are used to identify forward-looking statements. Statements related to the possible outcome of legal and administrative proceedings, implementation of operational and financing strategies and investment plans, guidance on future operations, the objective of expanding its efforts to achieve the sustainable macro objectives disclosed by the Company, as well as factors or trends that affect the financial condition, liquidity or operating results of the Company are examples of forward-looking statements. Such statements reflect the current views of the Company's management and are subject to various risks and uncertainties, many of which are beyond the Company’s control. There is no guarantee that the events, trends or expected results will actually occur. The statements are based on various assumptions and factors, including, but not limited to, general economic and market conditions, industry conditions and operating factors, availability, development and financial access to new technologies. Any change in these assumptions or factors, including the projected impact from the joint venture and its development of technologies, from the geological event in Alagoas and related legal procedures and the unprecedented impact on businesses, employees, service providers, shareholders, investors and other stakeholders of the Company could cause effective results to differ significantly from current expectations. For a comprehensive description of the risks and other factors that could impact any forward-looking statements in this document, especially the factors discussed in the sections, see the reports filed with the Brazilian Securities and Exchange Commission (CVM). This Material Fact does not constitute any offer of securities for sale in Brazil. No securities may be offered or sold in Brazil without being registered or exempted from registration, and any public offer of securities carried out in Brazil must be made through a prospectus, which would be made available by Braskem and contain detailed information on Braskem and its management, as well as its financial statements.

FAQ

What antitrust decision involving Braskem (BAK) was announced?

Brazil’s antitrust authority CADE’s General Superintendence approved without restrictions a concentration act. The act relates to a potential transaction that could bring a private equity fund advised by IG4 Sol Ltda. in as a direct and/or indirect shareholder replacing Novonor’s equity interest.

How does the potential transaction affect Novonor’s stake in Braskem (BAK)?

The potential transaction involves the private equity fund assuming the equity interest currently held by Novonor S.A. – Em Recuperação Judicial. This is tied to credits acquired by Shine I FIDC that are secured by Braskem shares, enabling a possible transfer of Novonor’s Braskem stake.

What role does Shine I FIDC play in the Braskem (BAK) transaction?

Shine I Fundo de Investimento em Direitos Creditórios acquired certain credits against Novonor group companies. These credits are secured by a fiduciary assignment of Braskem shares, forming the basis for the potential transfer of Novonor’s Braskem equity interest to the private equity investment fund.

Is CADE’s approval of the Braskem (BAK) transaction final?

The General Superintendence approved the concentration act without restrictions, but it is not yet fully final. Once the decision is published, a 15-day period begins during which CADE’s Tribunal may review the decision and potentially alter or confirm the approval.

Will Braskem (BAK) provide more details on the potential shareholder change?

Braskem states it will disclose any additional information it receives from Novonor, the private equity fund or Shine I FIDC. Updates are expected on conditions precedent and other aspects of the potential transaction, in line with applicable laws and market disclosure rules.

Does this Braskem (BAK) disclosure involve an offer of securities in Brazil?

No, the company specifies the material fact does not constitute an offer of securities in Brazil. It notes that any securities offer in Brazil would require registration or exemption and would be conducted through a prospectus containing detailed information and financial statements.