Sector News

BASF Sells Stake in Singapore Joint Venture to Shell

December 18, 2014
Energy & Chemical Value Chain
BASF SE and Royal Dutch Shell PLC (RDSA.LN) have reached an agreement for the sale of the German chemical company’s 50% stake in their Singapore joint venture ELLBA Eastern to the oil group, BASF said Thursday.
 
The joint venture, which is operated by Shell, produces styrene monomer and propylene oxide. Financial details of the transaction weren’t disclosed.
 
The ELLBA joint venture between Shell and BASF in Moerdijk, the Netherlands, isn’t affected by the transaction.
 
By Friedrich Geiger
 
Source: Wall Street Journal

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