INEOS completes buyout of styrenics JV with NOVA

01 March 2011 16:20  [Source: ICIS news]

HOUSTON (ICIS)--INEOS confirmed on Tuesday it has completed the purchase of NOVA Chemicals's interest in the 50:50 INEOS NOVA styrenics joint venture (JV), making it a wholly owned business within the INEOS Group.

As part of the transaction, which was completed on 28 February, INEOS said it is changing the name of the business to INEOS Styrenics.

On 31 October 2010, an agreement between the two companies provided for the total acquisition by INEOS of NOVA's equity interest in the JV.

NOVA did not disclose a sales price for its part of the styrenics business.

For more on styrenics visit ICIS chemical intelligence

By: Brian Balboa
+1 713 525 2653

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