Agreement close for GE Plastics sale - report
18 May 2007 01:01 [Source: ICIS news]
HOUSTON (ICIS news)--General Electric could reach an agreement as early as Monday to sell its plastics division for about $11 bn (€8.14bn), according to unconfirmed reports published on Thursday by the Wall Street Journal.
The Wall Street Journal cited sources who said SABIC and Basell, a company owned by Access Industries, were the remaining bidders.
Spokesmen from Basell and GE Plastics declined to comment. SABIC did not respond to inquiries seeking comment.
($1 = €0.74)
By: Al Greenwood
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