Dow Chemical in $1.63 Billion Sale of Styron Business to Bain Capital

Cleary Gottlieb is advising The Dow Chemical Company on worldwide antitrust, foreign investment, and other regulatory approvals in the sale of its newly formed Styron business unit to Bain Capital Partners. As announced on March 2, Dow will sell the Styron business for $1.63 billion to Bain. The transaction is a key step in Dow’s strategy to reduce leverage through the orderly and value-maximizing disposal of non-strategic businesses. The transaction is subject to regulatory clearances in the United States, the EU, China, and several other jurisdictions. The transaction is expected to close this summer.

Dow is a diversified chemical company with $44 billion sales annually, supplying about 160 countries with numerous products. With approximately $3.5 billion sales annually, the Styron business unit is among the world’s largest producers of plastics, including polystyrene, as well as latexes and synthetic rubbers. Bain Capital is a global private investment firm with approximately $65 billion in assets under management.