(MENAFN) Ineos, Switzerland-based petrochemical firm, said it bought out BASF, the world's biggest chemicals group for USD1.5 billion from their joint venture Styrolution, The Peninsula Qatar reporte
"Ineos will acquire BASF's 50 percent share in Styrolution," which produces the styrene used to make plastics, the company said in a statemen
The transaction, which still needs a green light from a variety of antitrust authorities, will cost Ineos USD1.5 billion, the company sai
Styrolution, currently the world's leading styrenics supplier, will continue operating as an independent company until the deal was finalized, likely at the end of this year
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