WuXi AppTec Sells China Clinical Research Business to Sharpen Focus
WuXi AppTec has agreed to sell its China-based clinical research services business, including WuXi Clinical and WuXi MedKey, to Hillhouse Investment Management.
divestment
Syensqo to Divest its Oil & Gas Business Unit to SNF Group
The agreement marks an important milestone in Syensqo’s pure play specialty strategy.
BASF Divests Two Joint Ventures in China
BASF has divested its shares in the joint venture companies, BASF Markor Chemical Manufacturing (Xinjiang) Co., Ltd. and Markor Meiou Chemical (Xinjiang) Co., Ltd. in Korla, China, to Verde Chemical Singapore Pte. Ltd.
Ineos Enterprises Sells Ineos Composites to KPS for €1.7 Billion
Ineos Enterprises has completed the sale of its composites business to KPS Capital Partners, LP (“KPS”) for ~€1.7 billion.
BP Wants to Sell German Refinery in Gelsenkirchen
Oil giant BP announced plans to sell its refinery in Gelsenkirchen, Germany, operating under the name Ruhr Oel. The assets to be divested include the refinery in Gelsenkirchen and DHC Solvent Chemie in Mülheim an der Ruhr, Germany.
Hutchmed to Divest Stake in Joint Venture for $608 Million
China’s Hutchmed has agreed to divest its 45% equity interest in Shanghai Hutchison Pharmaceuticals Ltd. (SHPL) for approximately $608 million (4,478 million renminbi) in cash, to China-based private equity firm GP Health Service Capital and Shanghai Pharmaceuticals.
Ineos Styrolution Confirms Decision to Not Restart Sarnia Site
Ineos Styrolution, a supplier of styrenics materials, recently confirmed it will not restart its styrene monomer production site in Sarnia, Ontario, Canada, which has been shut down since April 2024.
Teva Intends to Divest API Business
Israeli generics manufacturer Teva Pharmaceuticals intends to divest its active pharmaceutical ingredient (API) business, Teva API (TAPI). A standalone business unit of Teva, TAPI supplies APIs to over 1,000 customers worldwide and has approximately 4,300 employees worldwide.
TotalEnergies and SABIC Consider Selling US Chemical Plant
Major French oil company TotalEnergies SE and Saudi Basic Industries Corp. (SABIC) are considering selling a jumbo US plant that produces styrene and polystyrene, used in products such as plastic packaging, disposable cups, and insulation.
Yara to Divest Fertilizer Business in Ivory Coast
Yara has decided to divest its fertilizer import and distribution subsidiary in Ivory Coast. The move follows a thorough analysis of the company’s operations, considering market dynamics, regulatory environment, and strategic growth opportunities.
Sandoz Spin-off from Novartis to Start on October 4, 2023
Novartis today confirmed the plan to spin off 100% of its generic drugs arm Sandoz, with trading of the new company’s shares as well as ADRs (American Depositary Receipts) to start on Oct. 4, 2023.
DuPont to Divest Majority Stake in Delrin Business to TJC
DuPont has agreed to sell an 80.1% ownership interest in the Delrin acetal homopolymer (H-POM) business to private equity company TJC in a transaction valuing the business at $1.8 billion. The transaction is expected to close around year-end 2023, subject to customary closing conditions and regulatory approval.
