Mubasher TV
Contact Us Advertising   العربية

Dow Chemical to divest stakes in two companies

Dow Chemical to divest stakes in two companies
Andrew Liveris Chairperson of Dow Chemical Company revealed that based on due analysis, the company started to plan trimming shareholding in ME Global and Greater Equate.

This partial exit will offer Dow a chance to invest in more strategic projects , reported the state -run news agency KUNA.

Dow Chemical expects the sales' plans to be completed by mid-2015.

Dow noted that it will maintain major shares in both companies after the sale.

The partial disengagement includes Dow's shareholding in The Kuwait Olefins Company and The Kuwait Styrene Company (TKSC), it added.

In line with a previous announcement that Dow will trim investments in some joint projects, the company will review its share in the two projects, it noted. This is likely to open fresh prospects for pumping fresh capital in the successful and developing enterprises.

In the meantime, Dow stressed that it will carry on with support to ME Global and Greater Equate projects to enhance their performance and total value.