27 July 2011 15:24 [Source: ICIS news]
HOUSTON (ICIS)--US-based Dow Chemical has signed a definitive agreement to sell a polypropylene (PP) business for $340m (€238m), chief executive Andrew Liveris said on Wednesday.
Liveris said the company would sell the business to a strategic buyer. He did not name the company.
The deal amounts to 6.7 times earnings before interest, tax depreciation and amortisation.
($1 = €0.70)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|