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

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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