Transaction News: BP completes USD5 billion sale of its global aromatics & acetyls business to INEOS

Skrine has advised long-time client BP plc on the Malaysian aspects of its USD5 billion sale of its global aromatics, acetyls and related businesses to INEOS. The Malaysian portion of the transaction which closed on 31 December 2020 involved the sale of BP’s 100% subsidiary, BP Asia Pacific (Malaysia) Sdn. Bhd. and BP PETRONAS Acetyls Sdn. Bhd., a joint-venture between BP (70%) and Petronas Chemicals (30%) which was first Greenfield plant in the world to use BP's new Cativa process technology. 
Media coverage of the transaction can be accessed at:
The Skrine’s deal team was led by Fariz Abdul Aziz with senior associate Karyn Khor, associates Jeralyn Kan and Ting Shi Jing together with paralegal Faith Chan supporting. The deal team was supported by employment partner Selvamalar Alagaratnam.