Dow Chemical in Divestment of Global Polypropylene Business to Braskem

Cleary Gottlieb is advising Dow Chemical on the antitrust aspects of its $340 million sale of its global polypropylene business to Braskem, the largest petrochemical company in the Americas.

Over the past two years, Cleary Gottlieb has advised Dow Chemical on several transactions that are part of Dow’s strategy to realign its businesses to become the top specialty chemical company in the world, including the $1.63 billion sale of its Styron business unit to Bain Capital Partners (2010), the sale of Rohm and Haas Powder Coatings to Akzo Nobel (2010), the sale of Morton Salt to K+S (2009), the sale of its calcium chloride business to Occidental Petroleum (2009), and in obtaining U.S. Federal Trade Commission and European Commission clearance of its $18.8 billion acquisition of Rohm and Haas (2009).