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Bracewell Represents Old World Industries in $795 Million Sale to Indorama Ventures
February 7, 2012
Bracewell & Giuliani LLP is serving as counsel to Old World Industries, LLC and Old World Management, Inc., in the $795 million sale of Old World Industries I, Ltd. and Old World Transportation, Ltd. to Thailand’s Indorama Ventures PCL.
Old World owns the largest single ethylene oxide (EO)/ethylene glycol (EG) production facility in the U.S., located in Clear Lake, Texas, with an EO capacity of 435,000 metric tons per annum.
Indorama plans to use internal cash and loans from financial institutions to fund the purchase, which is expected to be completed during the first quarter of 2012, subject to customary regulatory approvals.
