Kuwaiti government caves in to populist calls by cancelling KDow deal

Issue 845 - 16 Jan 2009 | 4 minute read

The breakdown of the deal between The Dow Chemical Company and Petrochemical Industries Company – in which the Kuwaiti state-owned PIC would take a 50% stake in the United States’ largest chemicals group for around $9bn in return for the Americans developing the emirate’s downstream value-added via the KDow joint venture – is unsurprising.

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