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 has completed the sale of its composites business to KPS Capital Partners, LP (“KPS”) for ~€1.7 billion.
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.
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, 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.
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.
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 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.
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 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.
