The National Company Law Tribunal (NCLT), Chennai bench, has granted Haldia Petrochemicals more time to submit a revised resolution plan for Nagarjuna Oil Corporation Ltd (NOCL). The development comes after multiple...
KKR to bail out JBF Industries, will buy its petrochemical unit
Beleaguered polyester and petrochemicals manufacturer JBF Industries Ltd has decided to sell its petrochemicals business to private equity firm KKR and Co. in a bid to stay the insolvency proceedings being initiated...
Petronas Chemicals eyeing acquisitions to boost specialty business
The chemical manufacturing unit of Malaysia’s state energy firm Petronas [PETR.UL] is actively looking to acquire companies to expand its specialty chemical business, its chief executive officer said on Tuesday...
Sun Petrochemicals in the race to buy Assam Oil Company
Dilip Shanghvi-promoted Sun Petrochemicals Pvt. Ltd has bid for the assets of debt-ridden Assam Co. India Ltd (ACIL), two people aware of the development said. Kolkata-based ACIL is India’s oldest tea company, and has...
PolyOne Corp set to buy engineering plastic maker Formulated Polymers
PolyOne Corporation, the global major of specialized polymer materials, is set to acquire India’s leading engineering plastic compound maker Formulated Polymers Ltd. The $3.2 billion PolyOne, which operates...
Lenders to consider resolution plans for debt-ridden Nagarjuna Oil today
The Committee of Creditors (CoC) for Nagarjuna Oil Corporation Ltd (NOCL) will meet on Tuesday to consider the resolution plans of prospective investors. According to sources, West Bengal-based Haldia Petrochemicals and...
JPMorgan, Morgan Stanley picked to advise on Aramco’s SABIC deal: sources
JPMorgan (JPM.N) and Morgan Stanley (MS.N) have been picked to advise on Saudi Aramco’s plan to buy a controlling stake in petrochemical maker SABIC 2010.SE, several sources familiar with the matter said. Aramco aims to...
Saudi Aramco mulls stake in world’s no. 4 chemical firm – sources
Saudi Arabia’s government is considering a plan under which Aramco would buy a stake in Saudi petrochemical maker SABIC, a move that could boost the state oil giant’s market valuation ahead of a planned initial public...
LyondellBasell in exclusive talks to acquire control of Braskem
LyondellBasell Industries NV (LYB.N) and Odebrecht SA, the controlling owner of petrochemicals producer Braskem, said on Friday they have entered into exclusive talks for Lyondell to acquire control of Braskem, and two...
Essar Oil to invest $250 mn in Stanlow refinery
Essar Oil UK looks to invest $250 million in its Stanlow refinery to increase production, improve focus on high-value products and expand its crude oil sourcing basket to save costs and improve margins. “Essar...
ExxonMobil says completes Singapore refining-petchem plant acquisition
ExxonMobil (XOM.N) said on Monday it has completed the acquisition of Jurong Aromatics, a refining and petrochemical plant in Singapore, that will meet fast-growing demand in Asia. The acquisition will boost the U.S...
Exxon Mobil buys Singapore petrochemical plant, boosts output in Asia
Exxon Mobil Corp (XOM.N) said on Thursday it has reached an agreement to buy a refining and petrochemical plant owned by Jurong Aromatics (JAC) in Singapore that will boost its output and meet demand in Asia. The...
