Remember back in July, when Dow Chemical Co. announced that it was looking for a buyer for its styrenics and polycarbonate business, which it dubbed Styron Corp.? It may have found a buyer, according to this Dow Jones report. The suitor is Lotte Co. Ltd., a South Korean conglomerate that got its start making candy, but today has operations in food, hotels, retail, financial services, chemicals, electronics, construction, publishing, and entertainment. The Dow Jones story quotes an official who asked not to be named. The details make it sound credible: Deutche Bank and HSBC are advising on the potential sale, the deal is valued at between $1 billion and $2 billion (admittedly a rather large range), and that Lotte is one of the seven or eight bidders that had been under consideration.
Does Dow have a Korean buyer for Styron?
Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Plastics News would love to hear from you. Email your letter to Editor at [email protected]