Ineos cleared to buy BASF's Styrolution stake

Märkte: Petrochemicals
17.11.14

Ineos completed its purchase of BASF's 50pc stake in Styrolution following approval from regulators, the companies announced today.

Ineos paid €1.1bn ($1.37bn) for the stake in the styrenics manufacturer, which will operate as a stand-alone business within Ineos. Styrolution operates in 11 countries, including a 779,000 t/yr styrene plant in Bayport, Texas ,and facilities in Germany, Sweden, and Thailand. It was formed in 2011 as a joint venture between the two companies. The sale was first announced in June.

als/tdf

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