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NOVA Chemicals Announces Short Extension for Closing IPIC Transaction
07-03-2009: NOVA Chemicals Corporation (“NOVA Chemicals”) announced that International Petroleum Investment Company (“IPIC”) has agreed with the Investment Review Division of Industry Canada to an extension of its review under the Investment Canada Act of IPIC’s acquisition of NOVA Chemicals until July 6, 2009. NOVA Chemicals expects to close the transaction with IPIC shortly after receipt of the Investment Canada Act approval.
Additionally, NOVA Chemicals and its lenders have agreed to amended financial covenants for the remainder of 2009.
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