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BASF to Receive €600 Million from Styrolution JV to Equalize Assets

2:39 AM MDT | July 5, 2011 | Natasha Alperowicz

BASF has confirmed reports in the German media that it will receive €600 million ($870 million) from Styrolution (Frankfurt), the equally owned styrenics joint venture  with Ineos, because BASF is contributing more assets into the jv. BASF will receive the compensation payment in cash from Styrolution at the closing of the jv, following the necessary approvals, a BASF spokesperson says. Closing is expected this year, the company says.   BASF and Ineos earlier this year received approval from the European Commission for Styrolution, which combines...

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