Ineos agrees to a $5B deal for BP's petrochemicals unit
June 30, 2020
Chemicals group INEOS has agreed to buy BP's petrochemicals business for $5 billion. The division focuses on aromatics and acetyls with 14 manufacturing sites across Europe, Asia and the US; it produced 9.7 million tonnes of petrochemicals in 2019. The sale completes BP's plan to dispose of $15 billion in assets.