Innovene up for grabs ahead of IPO

摘要

IN WHAT appears to be a shift in strategy,BP could be looking to sell Innovene,its olefins and polyolefins subsidiary,through direct negotiations with potential bidders ahead of a scheduled IPO in late 2005.Sources close to the bidding process suggested that BP would prefer to go in for a direct sale,and would resort to an IPO only if negotiations with potential bidders fail.