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Markets :: Basic Chemicals :: Inorganic Chemicals :: Chlor-alkali
Sunoco to Spin off its SunCoke Energy Business
9:10 AM MST | December 8, 2011 | Lindsey Bewley
Sunoco has declared a special stock dividend to its shareholders of the 56,660,000 shares of common stock of SunCoke Energy, its coke production business, representing approximately 80.94% of the outstanding shares of SunCoke common stock. The dividend will effectively spin-off SunCoke from Sunoco. Sunoco says the separation of SunCoke from Sunoco will aid SunCoke by providing it with independent access to capital markets to finance its growth, enlarge its scale and enhance its ability to take advantage of domestic and international opportunities. In...
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