Dow Chemicals Sells 50 Percent Stake To Kuwaiti Co For $9.5 Billion

AP   |   December 13, 2007 08:45 AM

Read More: Dow Chemical, Dow Chemical Co, Kuwait Petroleum, Oil, Petrochemical Industries, Petrochemicals, Breaking Business News
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Dow Chemical Co. will sell a 50 percent interest in five of its global businesses to a Kuwaiti company for about $9.5 billion to form a new joint petrochemicals venture, the company said Thursday.

Dow said the transaction with Petrochemical Industries Co., a subsidiary of state-owned Kuwait Petroleum Corp., is subject to the completion of definitive agreements and regulatory approvals.

Dow expects the deal to close in late 2008.

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- Stretchumall See Profile I'm a Fan of Stretchumall permalink

Just how many were killed in Bhopal, India by Dow?

Got Rope?

    Favorite    Flag as abusive Posted 12:10 AM on 12/14/2007
- fourex See Profile I'm a Fan of fourex permalink

Kuwait can now make their own agent orange.

    Favorite    Flag as abusive Posted 11:37 PM on 12/13/2007
- jerrypenguin See Profile I'm a Fan of jerrypenguin permalink

The DOW deal sounds reasonable. The piss ant US citizen gets Kuaiti petroleum in exchange for paper dollars. The petroleum is converted into consumer goods. The consumer goods consist of gasoline, plastic, asphalt, weapons, etc. Kwaities exchange their paper dollars for part of the US industrial structure and assorted properties. Everyone is happy, the piss ant US citizen gets consumer goodies, investment bankers get tens of millions to set up the DOW sale, CEO's get their massive bonuses. The dollar value of DOW stock increases. A few fortunate US citizens may be permitted to work for the new owners of Dow.

There is absolutely nothing to gripe about. This event is the mere ebb and flow of capital, resources, and power. The US citizen should simply enjoy moving a few tons of metal to move his carcass from suburban home, on the asphalt, to the mall. This is an exclusive right and privilege of US citizens. In exchange for mall the average US citizen simply has to give something. In the future, the exchange may include selling their children.

    Favorite    Flag as abusive Posted 01:01 PM on 12/13/2007
- MajorKong See Profile I'm a Fan of MajorKong permalink

Still kind of wondering why I risked getting my butt shot off for these people back in 1991...

    Favorite    Flag as abusive Posted 12:18 PM on 12/13/2007
- wadenelson1 See Profile I'm a Fan of wadenelson1 permalink

And what sort of environmental concerns do you think the new Kuwaiti owners will have when it comes to dumping PCB's or DDT or waste from napalm production into American rivers.

I lived near a Dow plant as a kid....the fish from the nearby river will NEVER be edible again.

    Favorite    Flag as abusive Posted 11:45 AM on 12/13/2007
- Dendroica See Profile I'm a Fan of Dendroica permalink

Thought the headline was misleading.

Dow's is worth a shitload more than 19B.

    Favorite    Flag as abusive Posted 09:46 AM on 12/13/2007
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