Date closed: 12 /23/2015

Value: US$1.5 billion

On December 23, 2015, The Dow Chemical Company (Dow) completed the sale of its ownership interest in MEGlobal to EQUATE Petrochemical Company K.S.C. (EQUATE) and has received US$1.5 billion in pre-tax proceeds. Dow had previously announced its intent to optimize its ownership in its Kuwaiti Joint Ventures and the closure of this transaction represents progress toward delivering this commitment.  The majority of MEGlobal's value consists of Canadian assets owned by MEGlobal Canada Inc.

The Dow Chemical Company, headquartered in Midland, Michigan, is a multinational chemical corporation.

MEGlobal, headquartered in Dubai, UAE, is a leader in the manufacture and marketing of monoethylene glycol and diethylene glycol.

EQUATE Petrochemical Company K.S.C., headquartered in Kuwait is the operator of manufacturing facility producing more than 5 million tons annually of high-quality petrochemical products that are marketed throughout the Middle East, Asia, Africa and Europe.

Steve Suarez of BLG acted as Canadian tax counsel to Dow.