Dutch DSM to sell energy, urea businesses

29 July 2009 21:41  [Source: ICIS news]

NEW YORK (ICIS news)--DSM has found buyers for its energy and urea businesses, sales that should help it concentrate on life and materials sciences, the Dutch producer said on Wednesday.

DSM Energie will be sold to TAQA Abu Dhabi National Energy for €285m ($401m). DSM expects the sale to close in the third quarter.

Stamicarbon will be sold for €38m to Maire Tecnimont, an engineering and construction group in Italy. DSM expects the deal to close by the fourth quarter.

“I am convinced that urea licensing has a much better strategic fit with Maire Tecnimont, a leader in project management and contracting,” said Nico Gerardu, member of DSM’s managing board.

($1 = €0. 71)

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By: Clay Boswell
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