Deals
Ineos Gets $1.02 Billion in PetroChina Refinery Deal
This article is for subscribers only.
Ineos Group Holdings Plc sold a 50 percent stake in its European oil-refining operation to PetroChina Co. for $1.02 billion, paving the way for the chemical and plastics maker to improve borrowing terms.
The offer for holdings in the refineries of Grangemouth, Scotland, and Lavera, France, is part of a joint-venture agreement between Ineos and PetroChina, Rolle, Switzerland-based Ineos said in a statement today.