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Plans for JV ended after Kuwaiti government balks.
December 29, 2008
By: TOM BRANNA
Editor
Kuwait said Sunday it is terminating plans for its $17.4 billion dollar joint venture with Dow Chemical Co. amid political opposition. Dow confirmed reports of the cancellation, saying its partners in the deal verbally informed it of the decision by Kuwait’s top energy body, the Supreme Petroleum Council. The JV, known as K Dow, would have funded Dow Chemical’s acquisition of Rohm & Haas Co, according to reports. “Dow is extremely disappoint...
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