31 January 2013 19:48 [Source: ICIS news]
HOUSTON (ICIS)--Dow Chemical plans to sell its stake in Nippon Unicar to the TonenGeneral Group, its partner in the Japan-based joint venture, the US-based major said on Thursday.
Financial terms were not disclosed.
Dow owns the stake through its subsidiary, Union Carbide.
When the deal closes, Nippon Unicar will become a wholly-owned subsidiary of the TonenGeneral Group, Dow said.
The closure of the transaction is will depend on regulatory approval from the Japan Fair Trade Commission (JFTC) and China's Ministry of Commerce (MOFCOM).
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|
Asian Chemical Connections