BP to sell 47.4% stake in Samsung Petrochemical for US$70 mln

11-Oct-07
In line with BP's strategic intent to exit the Korean PTA market, the company is to hive off its stake in Samsung Petrochem. BP PLC has agreed to sell its 47.4% stake in South Korean Samsung Petrochemical Co for US$70 mln in cash to Samsung Corp. Samsung Corp already owns 47.4% of Samsung Petrochemical.
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