IRS approves favorable tax treatment for PPG commodity spin-off

PPG Industries has received a favorable private letter ruling from the U.S. Internal Revenue Service (IRS) concerning how the planned merger of its commodity chemicals business into Georgia Gulf would be treated for tax purposes. The receipt of the ruling was a closing condition of the transaction. PPG now intends to commence its exchange offer to split off its commodity chemicals business with the closing of merger expected to occur in late January 2013. PPG announced in July that it would separate its commodity chemicals business through a spin-off...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers