Nova-IPIC Deal Close Nears; Nova Eyes Mideast

摘要

Nova Chemicals says its acquisition by International Petroleum Investment Co (IPIC) is on schedule to close by the end of June. They have a pretty good shot at delivering on that expectation, Nova CEO Chris Pappas told attendees at an event held earlier this month at the National Plastics Exposition in Chicago. IPIC and Nova are in the final stages of meeting closing conditions, Pappas says. IPIC, whose petchem properties generate $20 billion-$25 billion/year in revenues, will likely provide Nova with access to Abu Dhabi's planned $20-billion "Chemical City" complex, whose key investors are IPC and Abu Dhabi National Oil Co.