Issachar
December 13th, 2007, 07:49 AM
MIDLAND, Mich. (AP) -- Dow Chemical Co. will sell a 50 percent interest in five of its global businesses to a Kuwaiti company for about $9.5 billion to form a new joint petrochemicals venture, the company said Thursday.
Dow said the transaction with Petrochemical Industries Co., a subsidiary of state-owned Kuwait Petroleum Corp., is subject to the completion of definitive agreements and regulatory approvals.
Dow expects the deal to close in late 2008. More (http://biz.yahoo.com/ap/071213/dow_chemical_kuwait.html)
No surprise here I guess. US = Debtor Nation; Middle East = Awash in cash.
Issachar
Dow said the transaction with Petrochemical Industries Co., a subsidiary of state-owned Kuwait Petroleum Corp., is subject to the completion of definitive agreements and regulatory approvals.
Dow expects the deal to close in late 2008. More (http://biz.yahoo.com/ap/071213/dow_chemical_kuwait.html)
No surprise here I guess. US = Debtor Nation; Middle East = Awash in cash.
Issachar