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Chemical Week Magazine :: Top of the Week
Dow Divests Assets; Defends Rohm and Haas Purchase
11:38 AM MDT | May 22, 2009 | Robert Westervelt with Nancy Seewald
Dow Chemical says it has agreed to sell its 45% stake in a Dutch refining partnership with Total, Total Raffinaderij Nederland, to Valero Energy for about $725 million. The deal is expected to close in the third quarter, pending regulatory approval and a right of first refusal by Total. Dow has also entered into an agreement 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...
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