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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, 2007

(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- _____.

 

 



This presentation contains forward-looking statements. Such statements are not statements of historical fact, and reflect the beliefs and expectations of Petrobras’, Ultrapar’s and Braskem's management. The words "anticipates", "believes", "estimates", "expects", "forecasts", "intends", "plans", "predicts", "projects", "targets" and similar words are intended to identify these statements, which necessarily involve known and unknown risks and uncertainties, considering Petrobras, Ultrapar and Braskem information.

Accounting information are updated until December 31, 2006 and Petrobras, Ultrapar and Braskem are not obliged to update them in light of new information or future developments.

Petrobras, Ultrapar and Braskem are not responsible for any transaction or investment decision based on the information contained in this presentation.

Summary

1. Motivation

2. Ipiranga Group

3. Operation Structure

4. Benefits



• Reorganization and consolidation of key sectors in the Brazilian economy:

• For Petrobras:

• For Ultrapar:

• For Braskem:

• Fuel Distribution

• Petrochemicals

• Oil Refining

• In 2006, Ipiranga Group’s consolidated net revenue totaled R$ 30 billion, EBITDA R$ 1.0 billion and net income R$ 534 million.


• National presence¹ (except RR and AP):








• Ipiranga Petroquímica:

• 5 industrial plants with a joint resin production capacity of 730 kt/year in 2006:
•    PE: 550 kt/year; 
•    PP: 180 kt/year. 
• 16% share of PE market, leadership in HDPE; 
• Net Revenue of R$ 2 billion; 
• EBITDA of R$ 184 million in 2006. 

• Copesul – shared control with Braskem:








• Investment agreement between Petrobras, Ultrapar and Braskem;

• Stage 1 – Ultrapar acquires the shares held by the controlling shareholders;

• Stage 2 – Ultrapar makes a tender offer for the acquisition of common shares (“tag along”): CBPI, DPPI and RIPI;

• Stage 3 – Petrobras and Braskem make a tender offer for the delisting of Copesul (CPSL);

• Stage 4 – Ultrapar incorporates CBPI, DPPI and RIPI preferred shares;

• Stage 5 - Ultrapar will sell part of Ipiranga Group’s assets to Braskem and Petrobras;

• Conclusion estimated for the 4Q07.


•  Petrobras:

•  Ultrapar :

•  Braskem:




             
Shareholder    Stock    Price per Share    Total (R$ MM)
 
CBPI             
    Common – TAG    58.10    74.85 
    Preferred    20.55    5.44 
 
DPPI    Common    140.09    713.54 
    Common – TAG    112.07    215.15 
    Preferred    29.57    79.63 
 
RIPI    Common    132.85    763.12 
    Common – TAG    106.28    43.28 
    Preferred    38.93    105.14 
 
Total            2000.16 
 



Tag Along         
Shareholders    Price per Share    Total (R$MM)
 
CBPI    58.10    178.38 
 
DPPI    112.07    186.42 
 
RIPI    106.28    406.95 
 
Total        771.75 
 


Copesul Delisting Tender Offer     
Shareholders    Price per Share    Total 
 
CPSL    37.60     1437.00 
 


• CBPI, DPPI and RIPI preferred shares will be exchanged for Ultrapar preferred shares. Ultrapar will issue new shares. Holders of CBPI, DPPI and RIPI preferred shares will now be shareholders in a company that employs the best corporate governance practices (100% tag along, transparency and simplified management structure);

• The exchange ratios were established based on a discounted cash flow valuation.

Merger of Shares     
    Exchange Ratio /UGPA 
 
CBPI    0.79850 
 
DPPI    0.64048 
 
RIPI    0.41846 
 

• Ultrapar’s capital structure will be as follows:

ULTRAPAR (Capital Ownership)    
Shares (# mm)   Before    After 
 
Common Shares    49.4    49.4 
Preferred Shares    31.9    84.7 
Total    81.3    134.1 
 
% TK ON    61%    37% 
 
% TK PN    39%    63% 
 

• Deutsche Bank was hired to prepare the valuation report related to the merger of shares







• Total value of the transaction was approximately US$ 4 billion, divided as follows:



• Petrochemicals:

• Distribution:


• Qualified growth of its operations;

• Substantial expansion in fuel distribution area

• Ultrapar will have two major distribution brands for oil by-products distribution;

• Accelerate investments in Ipiranga’s operation:

•  2006 pro-forma figures:

•  Maintenance of the quality in the Company’s capital structure;

•  Substantial improvement in the liquidity of the Company’s shares, with prospects of joining the IBOVESPA index.


• Consolidation as the largest petrochemical producer in Latin America, with an annual production capacity of 10 million tonnes, and one of the 10 largest in the world in terms of EBITDA;

• Leadership in all thermoplastic resins – PP, PE and PVC – with a market share of more than 50%;

• Integration of the Southern Petrochemical Complex, with great potential for synergy capture and new investments;

• Improved quality and productivity via higher EBITDA and EBITDA margins through the strong integration of the production chain;

• Maintenance of the quality in the capital structure;

 

2006 pro-forma figures:

• Gross revenue of US$ 10 billion;

• Net revenue of US$ 7.7 billion;

• EBITDA of US$ 1.4 billion;

• Net Debt/EBITDA ratio of 2.9x

 









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 22, 2007

  BRASKEM S.A.
 
 
  By:      /s/      Carlos José Fadigas de Souza Filho
 
    Name: Carlos José Fadigas de Souza Filho
    Title: Chief Financial Officer

 

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will a ctually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.