Swan Energy Limited (SEL) has acquired 55% stake in petrochemicals and petroleum products manufacturing company Veritas (India) for Rs 172.52 crore, the company said today. “As a part of the all-cash deal, SEL has...
Biocon Biologics to offer 15% stake to Serum Institute Life Sciences
Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, said on Thursday that it will offer about 15% stake to Serum Institute Life Sciences Pvt Ltd (SILS), a subsidiary of Serum Institute of India, at a post-money...
Brazil’s Novonor resumes sale of petrochemical producer Braskem
Brazilian engineering company Novonor, formerly known as Odebrecht SA, said on Thursday it had resumed contacts with bidders to sell its controlling stake in petrochemical producer Braskem SA. Proceeds of the sale will...
Mexico’s Alpek buys styrenics business of Canada’s Nova Chemicals
Mexican petrochemical company Alpek, a unit of conglomerate Alfa, has purchased 100% of Canadian plastics company Nova Chemicals’ styrenics business, the company said in a statement on Monday. Alpek did not...
BP sells petchems arm for $5 billion in energy transition revamp
BP has agreed to sell its global petrochemicals business to billionaire Jim Ratcliffe’s Ineos for $5 billion, pulling out of a sector widely seen as a key driver of oil demand growth in the coming decades. The surprise...
Saudi Aramco seeking to review price of SABIC deal – sources
Saudi Aramco is looking to restructure its deal to acquire a controlling stake in petrochemicals maker SABIC after a more than 40% drop in SABIC’s value following a slump in oil prices in coronavirus pandemic, two...
OMV AG in talks to buy 39% stake in Borealis from Mubadala for $4.68 bn
Austria’s OMV AG is in talks to buy a $4.68 billion stake in Borealis AG, a potentially record-breaking acquisition that would shift the state-controlled energy company’s focus to petrochemicals. Taking over the maker...
Aramco to win unconditional EU clearance for $69 billion SABIC deal – sources
World No. 1 oil producer Saudi Aramco is set to gain unconditional EU antitrust approval for its $69 billion buy of a 70% stake in petrochemicals group Saudi Basic Industries Corp (SABIC), people familiar with the...
ONGC shelves plan to sell stake in OPaL
Unable to attract a strategic partner for ONGC Petro Additions Ltd (OPaL), Oil and Natural Gas Corp. has shelved its stake sale plans for the petrochemical unit, said two people aware of the development, requesting...
Haldia Petrochem makes fresh bid for Nagarjuna refinery
Kolkata-based Haldia Petrochemicals has filed a fresh bid for the oil refinery of Nagarjuna Oil in Tamil Nadu’s Cuddalore district, a coastal plant facing liquidation that may be turned around into a large petrochemical...
Mexico’s Alpek inks deal to buy UK plant from Lotte Chemical
Mexican petrochemical company Alpek, a unit of conglomerate Alfa, has signed a deal to fully acquire a British plant from Lotte Chemical UK Limited, Alpek said in a statement on Tuesday. The plant, a unit of South...
Odebrecht hires Lazard to sell its stake in Brazil’s Braskem: report
Brazilian conglomerate Odebrecht SA has hired investment banking unit of Lazard to sell its stake in the petrochemical company Braskem SA, news website Brazil Journal reported on Friday. Preferred shares in Braskem...
