OREANDA-NEWS. BASF has completed the sale of its 50% share in Styrolution, the leading global styrenics supplier, to INEOS. The relevant merger control approvals have already been granted. The purchase price amounts to EUR 1.1 billion.

The transaction will lead to an expected pre-tax disposal gain in the mid three digit million euro range for BASF in the fourth quarter of 2014.

Styrolution was founded in October 2011 as a 50-50 joint venture between BASF and INEOS.