PIE - News-Ticker on Plasteurope.com

Dow: Sale of Styron to Bain Capital Private Equity

In a deal analysts estimate at more than USD 2 bn, Dow Chemical (Midland, Michigan / USA; www.dow.com) is selling its Styron styrenics business to Bain Capital Private Equity (Europe: London / UK; www.baincapitalprivateequity.comm). Announcing the sale plan in July 2009, Dow CEO Andrew Liveris said a price of USD 1-2 bn was targeted.

While the official ticket is USD 1.63m, Dow has attached provisions that are expected to pad the total, including an option to take an equity stake of around 15% in Styron as well as several long-term supply, service and purchase agreements. The transaction is set to close in August.

More news on Plasteurope.com...