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).
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