BASF has completed the sale of its 50 percent share in Styrolution to INEOS for €1.1 billion.
The relevant merger control approvals have been granted and the transaction is expected to result in pre-tax disposal gains for BASF in the mid three-digit million-euro range in the final quarter of 2014.
Styrolution was founded in October 2011 as a 50-50 joint venture between BASF and INEOS.
In a statement earlier this year, Jim Ratcliffe, Chairman, INEOS Capital, said that on completion of the merger, Styrolution will be “run separately as a standalone company within INEOS”, and “continue to operate as it does today.”