UK-headquartered petrochemical firm Ineos Group is to acquire petrochemical firm BP’s global Aromatics and Acetyls business for a consideration of US$5 billion: US$4 billion will be payable upon completion with the remaining US$1 billion deferred until,at the latest,June 2021.The aromatics business is a global leader in PTA and PX technology with six sites and supplies the global polyester business,which includes polyester fibre,film and PET packaging.The business’s largest manufacturing plants are in China,the US,and Belgium,and it licenses its PTA production technology to producers around the world.
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