By Patrick Raleigh, ERJ On-line news editor
Ludwigshafen, Germany/London-BASF AG and Shell are reviewing strategic options for Basell, their global 50:50 polyolefins joint venture. Basell claims to be the world’s largest producer of polypropylene and advanced polyolefins products, including TPO’s (thermoplastic polyolefins).
The groups have engaged Credit Suisse First Boston (CSFB) and Lazard to review their options for Basell, including selling their interests in the JV and an equity market offering, said a Shell/BASF statement.
BASF is planning to focus on its styrenics, performance polymers, polyurethanes businesses,…