One-Page Deal Sheet
Williams Sells Geismar Olefins Facility to NOVA for $2.1 Billion
Nova Chemicals Corporation Williams Partners Lp
Announced Date
April 18,2017
Close Date
July 06,2017
Transaction Type
Asset
Location
Region
Gulf Coast
Country
United States
State
Louisiana
Transaction Details: Subscribe to see
Williams Partners has agreed to sell 100 percent of its membership interest in Williams Olefins LLC, which owns an 88.46 percent undivided ownership interest in the Geismar, Louisiana, olefins plant and associated complex, to NOVA Chemicals for $2.1 billion in cash.
Additionally, upon closing of the transaction, Williams Partners subsidiaries will enter into long-term supply and transportation agreements with NOVA Chemicals to provide feedstock to the Geismar olefins plant via Williams Partners' Bayou Ethane pipeline system in the U.S. Gulf Coast. These agreements secure a meaningful…
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