BASF Carves out Styrenics Business Prior to Eventual Exit

BASF says it will carve out its styrenics business into a separate company, Styrolution (Ludwigshafen), "to make the business even more viable for the future." The company tried unsuccessfully to sell the styrenics operation in 2007 and in the following year began a carve-out process with a view to selling, joint venturing, or listing it on the stock market via an initial public offering (IPO) of shares. The carve-out process was subsequently shelved due to the global economic crisis, and it has recently been relaunched. The three original options are...

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