BW02 Announces Disposal Transaction
Why we think this is neutral
The RNS announcement provides details about a disposal transaction by BW02, but does not contain any information about the financial impact of the transaction. Without details on the significance of the disposal to the company's performance, a neutral sentiment is warranted.
Key Points
- Nova Chemicals Holding GmbH, an indirect wholly owned subsidiary of MDGH, has entered into an agreement to sell its interest in the entire issued share capital of NOVA Chemicals Corporation to ADNOC PJSC
- The total consideration for the sale is $13.4 billion including debt
- The completion of the transaction is subject to customary closing conditions and regulatory approvals
Summary
The company has announced the sale of its interest in NOVA Chemicals Corporation to ADNOC PJSC for $13.4 billion.
MDGH, the parent company of BW02, has announced that its indirect wholly owned subsidiary Nova Chemicals Holding GmbH has entered into an agreement to sell its interest in the entire issued share capital of NOVA Chemicals Corporation to Abu Dhabi National Oil Company (ADNOC) PJSC for a total consideration of $13.4 billion including debt. The completion of the transaction is subject to customary closing conditions and regulatory approvals.
GENERAL UPDATE