Business
Dow Announces Agreement to Sell its 50% Ownership in DowAksa Joint Venture
Dow (NYSE: DOW) today announced that it has signed a sale and purchase agreement to sell its 50% interest in DowAksa Advanced Composites Holdings BV (DowAksa) to Aksa Akrilik Kimya Sanayii A.Ş., a company of Akkök Holding. Aksa Aksa Akrilik Kimya Sanayii A.Ş., the other 50% joint venture partner, has agreed to acquire Dow's 50% interest. Dow's proceeds from the sale are expected to be $125 million, which reflects, after accounting for debt, an enterprise value of approximately 10x the estimated
About this update from Dow Inc.
[{"type":"list","items":[{"val":[{"type":"text","content":"Dow agrees to sell its 50% interest in DowAksa Advanced Composites Holdings BV (DowAksa) to its 50/50 joint venture partner Aksa Akrilik Kimya Sanayii A.Ş.","length":155,"tagName":"p"}]},{"val":[{"type":"text","content":"Proceeds will be used to support Dow's balanced capital allocation approach","length":79,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":234,"olType":false},{"type":"text","content":"MIDLAND, Mich., June 2, 2025 /PRNewswire/ -- Dow (NYSE: DOW) today announced that it has signed a sale and purchase agreement to sell its 50% interest in DowAksa Advanced Composites Holdings BV (DowAksa) to Aksa Akrilik Kimya Sanayii A.Ş., a company of Akkök Holding. Aksa Aksa Akrilik Kimya Sanayii A.Ş., the other 50% joint venture partner, has agreed to acquire Dow's 50% interest. Dow's proceeds from the sale are expected to be $125 million, which reflects, after accounting for debt, an enterprise value of approximately 10x the estimated 2025 operating EBITDA.","length":590,"tagName":"p"},{"type":"image","alt":"Dow, Inc. (PRNewsfoto/The Dow Chemical Company)","displaySize":"","headline":null,"caption":"Dow, Inc. (PRNewsfoto/The Dow Chemical Company)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":320,"url":"https://media.zenfs.com/en/prnewswire.com/29f724509730ec499fa49d672467e82c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/j5bSZHRjNXBL2nMVQtX6ew--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTU2NDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/29f724509730ec499fa49d672467e82c","width":400,"height":320}},"href":"https://mma.prnewswire.com/media/1556013/The_Dow_Chemical_Company_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Dow's decision to exit the joint venture, which was formed in 2012, is consistent with Dow's best-owner mindset strategy of focusing on its core, high-value downstream businesses. The proceeds from the transaction will be used to support the Company's balanced capital allocation approach.","length":301,"tagName":"p"},{"type":"text","content":"The sale is expected to close in the third quarter of 2025, subject to customary regulatory approvals and other closing conditions.","length":131,"tagName":"p"},{"type":"text","content":"BNP Paribas acted as exclusive financ...