UpdateArkema to buy US Dow’s acrylate and UCAR businesses for $50m
03 August 2009 07:46 [Source: ICIS news]
(Adds background and details throughout)
SINGAPORE (ICIS news)--France’s chemical maker Arkema said on Monday it will buy US Dow Chemical’s acrylate and latex assets in North America for a “fair value consideration” of $50m (€35m).
The assets include Dow’s
“The proceeds from the sale are accretive to Dow's shareholders and will be used for further de-leveraging,” the statement added.
Dow’s UCAR latex plants are located in
“Today's transaction, which comes well ahead of the 27 November deadline, is the major step in fulfilling our obligations to the [Federal Trade] Commission,” said Andrew N. Liveris, Dow’s chairman and CEO.
Dow is under obligation to sell certain businesses after it acquired Rohm and Haas earlier in the year to comply with US antimonopoly regulators.
Assets that Dow is obligated to sell include the following:
- An acrylic monomer plant in
- Acrylic polymer operations in
- An acrylic polymer plant in
- An acrylic polymer plant in
- An acrylic monomer research-and-development group in
- An acrylic latex polymer research-and-development group in
($1 = €0.70)
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By: Bohan Loh
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