Braskem Buys Dow's Polypropylene Business for $340 Million; Eyes Further Investments in the Americas

Dow Chemical says it will sell its global polypropylene (PP) business to Braskem for $340 million. The divestiture includes Dow’s PP manufacturing facilities at Schkopau and Wesseling, Germany, and Freeport and Seadrift, TX. Also included are inventory, business know-how, certain product and process technology and customer contracts and lists. The deal comprises of $323 million in plus other cash and contingency assumptions of $17 million. Enterprise value multiple to Dow is 6.7x Ebitda. Dow expects to report a gain on the sale, and the...

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