International Informer
SABIC is acquiring DSM Petrochemical (DPC). All DPC shares, associated DPC participations, sales activities and related technology positions, patents and trade names will be transferred..
SABIC is acquiring DSM Petrochemical (DPC). All DPC
shares, associated DPC participations, sales activities and
related technology positions, patents and trade names will be
transferred retroactively to Jan. 1, 2002. The sale is
scheduled to close June 2002. The total consideration is
$2.25 billion euros; half will be paid at closing and the
other half, 4.5 years after closing. The European Commission
and other outside regulatory agencies must approve the
sale.
Reportedly, this transaction is a step toward
SABIC's strategy to increase its global petrochemicals
business. It also realizes DSM's strategy to develop into a
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