Three bidders seem to have been shortlisted for the next auction round by Shell and BASF for their polyolefins business: Europe's Ineos Chlor, National Petrochemical of Iran and Haldia Petrochemicals of India - reported to have submitted offers of US$5.5 billion to US$5.7 billion. The bidders who are expected to not make it to the shortlist are American private equity firms Blackstone Group, Apollo Management, Bain Capital and Goldman Sachs Capital Partners.
Shell and BASF put the company up for sale a year ago as part of Shell's plan to shed between US$12 billion and US$15 billion in non-core assets over the next three years.
08-Feb-05 
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