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Dow Completes Sale of Dutch Refining Stake

7:58 AM MDT | September 7, 2009

Dow Chemical has completed the sale of its 45% stake in Dow and Total’s refinery joint venture—Total Raffinaderij Nederland (TRN)—at Vlissingen, the Netherlands to Total for approximately $800 million. The sale is part of Dow’s efforts to pay down debt related to its acquisition of Rohm and Haas earlier this year. Total is expected to sell the TRN refinery stake to Lukoil (Moscow). The Vlissingen refinery includes capacity for isobutane, mixed xylenes, and solvents. Dow says the TRN divestiture is consistent with its plan to increase...

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