Brazilian petrochemical producer Braskem said Abu Dhabi oil company ADNOC has presented a new non-binding offer to buy conglomerate Novonor’s stake in the firm. Novonor, formerly known as Odebrecht, is...
Hengli Petrochemical subsidiary eyes nearly $2 bln restructuring
Chinese independent refiner and petrochemicals producer Hengli Petrochemical has agreed to restructuring deals worth a total of up to $1.89 billion for its subsidiary Kanghui New Material Technology, filings showed on...
UK-based INEOS agrees to buy 50% of Sinopec’s Tianjin petchem plant
UK-based chemical and energy group INEOS has agreed to acquire a 50% stake in a petrochemical project in north China owned by China’s Sinopec Corp, the two companies said on Wednesday. The Tianjin Nangang Ethylene...
Manali Petrochemicals completes acquisition of Penn Globe Ltd
Manali Petrochemicals Ltd, an integrated manufacturer of polyols, has ‘closed the acquisition of United Kingdom-based Penn Globe Ltd, a market leader in foam control agents, for an enterprise value of GBP 21...
Mubadala expected to complete sale of 25% stake in OMV’s Borealis
Abu Dhabi sovereign wealth fund’s Mubadala is expected to complete the sale of its 25% stake in petrochemicals group Borealis (BESGR.UL), the chief executive of the plastic maker’s majority owner OMV said on...
RIL may be lone bidder for JBF Petrochem, which defaulted on Rs 5K-cr loan
Reliance Industries (RIL) is likely to be the lone bidder for Mangalore-based JBF Petrochemicals, which is up for sale after defaulting on bank loans worth Rs 5,000 crore. The lenders for the second time extended the...
Brazil’s Braskem receives three acquisition offers, says newspaper
Brazilian petrochemical company Braskem received three separate offers to be partially or wholly acquired, said local newspaper Valor Economico on Friday, citing sources familiar with the matter. The offers were made by...
Swan Energy acquires 55% stake in Veritas India
Swan Energy Limited (SEL) has acquired 55% stake in petrochemicals and petroleum products manufacturing company Veritas (India) for Rs 172.52 crore, the company said today. “As a part of the all-cash deal, SEL has...
Biocon Biologics to offer 15% stake to Serum Institute Life Sciences
Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, said on Thursday that it will offer about 15% stake to Serum Institute Life Sciences Pvt Ltd (SILS), a subsidiary of Serum Institute of India, at a post-money...
Brazil’s Novonor resumes sale of petrochemical producer Braskem
Brazilian engineering company Novonor, formerly known as Odebrecht SA, said on Thursday it had resumed contacts with bidders to sell its controlling stake in petrochemical producer Braskem SA. Proceeds of the sale will...
Mexico’s Alpek buys styrenics business of Canada’s Nova Chemicals
Mexican petrochemical company Alpek, a unit of conglomerate Alfa, has purchased 100% of Canadian plastics company Nova Chemicals’ styrenics business, the company said in a statement on Monday. Alpek did not...
BP sells petchems arm for $5 billion in energy transition revamp
BP has agreed to sell its global petrochemicals business to billionaire Jim Ratcliffe’s Ineos for $5 billion, pulling out of a sector widely seen as a key driver of oil demand growth in the coming decades. The surprise...
