Dow announced that it has entered into a definitive agreement to sell a 40% equity stake in select U.S. Gulf Coast infrastructure assets to a fund managed by Macquarie Asset Management. This new partnership, Diamond Infrastructure Solutions, will be a specialist infrastructure provider to Dow and other industrial customers at its five locations in Texas and Louisiana, offering comprehensive services to its tenants with a focus on world class efficiency, reliability and safety. As a dedicated infrastructure company, Diamond will be a new business model with greater strategic focus on operational efficiencies and new customer acquisition. Profitable growth for Diamond will benefit both Dow and Macquarie Asset Management’s future bottom-line results. Dow expects to receive initial cash proceeds of approximately $2.4B based on the sale of its 40% minority equity stake with the potential to generate cash proceeds up to approximately $3B for a 49% minority equity stake. Macquarie Asset Management will have the option to increase its equity share to 49% within six months of closing. Dow and Macquarie Asset Management expect to close the transaction in the first half of 2025, subject to customary regulatory approvals and other closing conditions.
Dow Inc. to sell 40% stake in select Gulf Coast infrastructure assets for $2.4B – TipRanks.com
