Arkema To Buy Some Acrylates, Latex Assets From Dow

French chemicals specialist Arkema (AKE.FR) said Monday that it has entered into an agreement with Dow Chemical Co (DOW) to buy certain acrylates and latex assets in North America for Dow to meet FTC required divestitures related to its acquisition of Rohm and Haas Company.

MAIN FACTS:

-Arkema will buy a Clear Lake, Texas, acrylic acid and esters plant and the UCAR Emulsion Systems specialty latex businesses in North America for a fair value consideration of U.S. $50 million.

-The proceeds from the sale are accretive to Dow's shareholders and will be used for further de-leveraging.

-The selection of Arkema as the buyer must be approved by the U.S. Federal Trade Commission, and the two companies will be shortly reviewing the proposed transaction with FTC authorities. It is expected to close in the fourth quarter of 2009.

Company Web site: www.arkema.com

-By Paris Bureau, Dow Jones Newswires; [phone]; [e-mail]