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Dow Chemical Sells Stake in Malaysian Petchem Ventures to Petronas for $660 Million

4:45 AM MDT | July 30, 2009 | Natasha Alperowicz

Dow Chemical says it wil sell its stake in the Optimal Group of companies, a petrochemical producer in Malaysia, to Petronas, Dow's joint venture partner in the venture for $660 million. The transaction is expected to close by the end of the third quarter. Dow and Petronas have entered into a commercial agreement to continue serving their customers with products manufactured by Optimal. Dow will market Optimal's basic and performance chemical products to existing customers in Asia/Pacific. "With this transaction, we hand over the management of these...

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