Dow Pens Sale Of Plastics Unit To Bain For $1.6B

Law360, New York (March 2, 2010, 4:59 PM EST) -- Dow Chemical Co. said Tuesday it had inked a deal to sell its Styron division to an affiliate of private equity firm Bain Capital LLC for $1.63 billion, a transaction that furthers Dow's goal of deleveraging.

As part of the transaction, Dow has an option to receive up to 15 percent of the equity of Styron. The transaction also includes several long-term supply, service and purchase agreements that will generate substantial value for both Dow and Styron.

The deal allows Stryon, a business with annual sales...
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