IPIC and NOVA Chemicals Announce Closing of Transaction
Advertisement
International Petroleum Investment Company (“IPIC”) and NOVA chemicals Corporation announced the completion of the acquisition of NOVA Chemicals by way of a plan of arrangement (the “Arrangement”). NOVA Chemicals will continue to operate its chemicals and plastics business from its North American base.
“We are very pleased to complete this transaction and are excited about the future opportunities for NOVA Chemicals to grow in Alberta and elsewhere,” said Chris Pappas, President and CEO of NOVA Chemicals. “Our team is focused on leveraging renewed financial strength to take our industry-leading technology from our operating base in Canada to the world.”
Pursuant to the Arrangement, a wholly-owned subsidiary of IPIC acquired all of NOVA Chemicals issued and outstanding common shares for US $6.00 per share.
De-listing of the common shares from the Toronto Stock Exchange and the New York Stock Exchange is expected to occur shortly.
Most read news
Other news from the department business & finance

Get the chemical industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.
Most read news
More news from our other portals
Last viewed contents
Clariant to establish strategic alliance with Beraca getting 30% of its shares of Health & Personal Care Business

Key compound of ozone destruction detected
DSM to further explore growth opportunities in China
Actavis to acquire Alpharma's Human Generics business - Actavis becomes one of top 5 global generics players

Tosoh Bioscience – Separation & Purification Expands European Headquarters in Griesheim, Germany - "This new facility will allow us to better serve our customers and explore new chromatography techniques and applications"
Ajinomoto to Invest a Total of 15 Billion to Expand Production of Feed Grade Amino Acids and Umami Seasonings
New 'self-exploding' microcapsules could take sting out of drug delivery

Asphaltene analysis takes a giant step - Rice researchers develop accurate measure of aggregating particles that block oil production lines

Hybrid electro-biosystem upcycles carbon dioxide into energy-rich long-chain compounds - Upcycling CO₂ via electrochemical and metabolic engineering
Tiny Tubes for Biotransport - Researchers clarify cellular uptake mechanisms for carbon nanotubes
Albemarle Announces Custom Manufacturing Agreement With ExxonMobil Chemical - Agreement provides 15,000 metric tons per year of high viscosity polyalphaolefins production
