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Dow’s Liveris Says Kuwait Deal will Pass New Scrutiny
BAHRAIN — Dow Chemical Co.’s agreement to sell a 50 per cent stake in its basic-plastics business to Kuwait will pass renewed scrutiny in the Middle Eastern country and close on schedule, Chief Executive Officer Andrew Liveris said.
The final approval process is “perfunctory and standard,” Liveris said on Friday in an interview from headquarters in
Dow said on Dec. 1 it will accept $9 billion for its plastics stake, less than the $9.5 billion that state-owned Petrochemical Industries agreed to pay last year, because of a weak economy and declining oil prices.
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