Shell to sell petrochemical JV with BASF for us5.7-bil

摘要

Shell and BASF have agreed to sell their 50-50 Basell polyolefins venture to a consortium of US and Indian investors for Eur4.4-bil (us5.7-bil) including debt,Shell said May 5.Access Industries of the US together with The Chatterjee Group,which holds a controlling stake in India's Haldia Petrochemicals,agreed to buy Basell,the world's biggest producer of polypropylene and advanced polyolefins.The transaction,subject to approval by antitrust authorities,is expected to close in the second half of this year.