THE WALL STREET JOURNAL: Shell, BASF Sell Plastics Venture To Consortium for $5.7 Billion
6 May 2005
A WALL STREET JOURNAL ONLINE NEWS ROUNDUP
LONDON — Royal Dutch/Shell Group and BASF AG of Germany agreed to sell their joint plastics venture — a giant manufacturer of basic materials used in everything from diapers to auto parts — to a consortium led by New York-based Access Industries and Chatterjee Group of India for €4.4 billion ($5.7 billion), including debt.
The transaction is subject to approval by regulators and is expected to close in the second half of 2005.