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Dow Chemical finalizes transaction to sell MEGlobal

by ChemOrbis Editorial Team -
  • 25/12/2015 (20:10)
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.
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