NewsFlashUS Dow to sell a PP business for $340m

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)

By: Al Greenwood
+1 713 525 2645

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