Dow weighs exit from Sadara Chemical joint venture
Shares of chemicals maker Dow were up 3.4% at $30.6 in premarket trading.
Dow is considering plans to exit its $20 billion Sadara Chemical joint venture with Saudi Aramco, Bloomberg News reported, as part of efforts to reshape its portfolio amid a prolonged industry downturn.
As of last year, Dow held a 35% stake in the venture, while Aramco held the rest, the report said.
Aramco could potentially acquire Dow's stake and increase its ownership in Sadara, the report said.
No final decisions have been made and Dow could eventually decide not to proceed with a deal, according to the report.
Dow and Aramco did not immediately respond to Reuters' requests for comment.
As of the last close, DOW was up 26.5% year to date.
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