Petchem assets worth USD 5 bn to change hands

摘要

In a deal worth USD 5 bn (EUR 4.45 bn), Ineos (London / UK) will take over the remaining petrochemical assets of BP (London) it hasn't yet bought and gain a leading position in market segments including aromatics and acetyls. BP said it is exiting the businesses to concentrate on clean energy and reduce debt. Production activities of 9.7m t/y slated to transfer to Ineos are located at 15 sites in Asia, Europe and the US. With BP Infinia, the purchase will also include positions in chemical recycling of PET. Not part of the transaction planned to close by the end of 2020 are the BP petrochemical assets at Gelsenkirchen and Miihlheim in Germany.