Australian polyethylene maker Qenos is likely to find a winning bidder in the State-owned China National Chemical Corp.
Qenos, a joint venture between ExxonMobil Corp and Orica Ltd. has already gone through several stages of bidding and the vendors are perceived to finalize a deal soon. Qenos may have a winning bidder next month for almost a A$260mil. This figure has disappointed one of the partners, Orica, the world's biggest maker of commercial explosives, as it had hoped that the sale of the joint venture would attract more than about A$310mil.
27-Jun-05 
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