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Ineos in Preliminary Partnership Discussions with Mideast Investors

5:48 AM MDT | March 15, 2010 | Natasha Alperowicz

Ineos is in preliminary discussions about the possibility of bringing in joint venture partners for, or selling, some of the company's assets, U.K. press reports say. The reports, quoting Tom Crotty, CEO at Ineos Olefins, say the company is in discussions with Mideast investors including Sabic and Petrochemical Industries Co. (Kuwait City). International Petroleum Investment Co. (Abu Dhabi) is also a possible partner, sources say. Ineos says that the company has been pursuing plans in the past 18 months to strengthen its balance sheet. "We have been looking...

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