Dow Chemical finalizes transaction to sell MEGlobal
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, the Dow Chemical Company (Dow)finalized the sale of its stake in MEGlobal, a joint venture between Dow and Kuwait’s Petrochemical Industries Company (PIC), to Kuwait’s Equate Petrochemical, receiving $1.5 billion in pre-tax proceeds.
Equate is a joint venture between PIC, Dow, Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Therefore, through its ownership interest in Equate, Dow will retain a 42.5% stake in MEGlobal.
Equate is a joint venture between PIC, Dow, Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Therefore, through its ownership interest in Equate, Dow will retain a 42.5% stake in MEGlobal.
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