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Regions :: Western Europe :: Netherlands
Dow Finds Buyers for Refinery Stake, Calcium Chloride Assets
4:46 PM MDT | May 21, 2009 | Nancy Seewald
Dow Chemical says it has agreed to sell its 45% stake in Total Raffinaderij Nederland, a Dutch refining partnership with Total, to Valero Energy for about $725 million. The deal is expected to close in the third quarter, pending regulatory approval as well as a right of first refusal by Total. Separately, Dow has agreed to sell its calcium chloride business to Occidental Petroleum's OxyChem unit for about $210 million. That deal, which is expected to close by the end of June, includes assets at Ludington, MI, as well as calcium chloride terminals and several...
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