# INEOS to acquire Sasol's 50% stake in Gemini HDPE for $404M

INEOS Olefins and Polymers USA agreed to acquire Sasol Chemicals North America LLC's 50% equity stake in Gemini HDPE LLC for $404 million, making INEOS the sole owner of the plant in La Porte, Texas. The acquisition is expected to close on December 31, 2020.

- Type: Acquisition
- Announced: 2020-11-24
- Where: La Porte, Texas, United States
- Value: $404.0M
- Status: announced
- Products: HDPE
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Sasol](https://endata.com/companies/8322.md)
- [Sasol](https://endata.com/companies/8322.md) (target)
- [INEOS](https://endata.com/companies/9807.md) (acquirer)
- [Gemini HDPE](https://endata.com/companies/51400.md) (target)

## Sources

- [chemorbis.com](https://www.chemorbis.com/en/plastics-news/INEOS-to-acquire-Sasol-s-50-share-in-Gemini-HDPE/2020/11/24/804120), 2020-11-23: "INEOS Olefins and Polymers USA announced in a press release that it has agreed to acquire Sasol Chemicals North America LLC’s 50% equity stake in Gemini HDPE LLC for $404m."
- [listcorp.com](https://www.listcorp.com/jse/sol/sasol-limited/news/divestment-by-sasol-chemicals-north-america-llc-of-its-50-percentage-equity-interest-in-gemini-hdpe-llc-2421510.html), 2020-11-24: "The Sale represents a further step in achieving Sasol’s strategic and financial objectives by accelerating the focus on specialty chemicals and reducing net debt."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.