Thailand's Indorama Ventures PCL (IVL.TH) said Tuesday it has singed an agreement to acquire 100% interest in U.S.-based Old World Industries I Ltd. and Old World Transportation Ltd. for $795 million.

Indorama plans to use its internal cash and loans from financial institutions to fund the acquisition, which is expected to be completed within the first quarter, Indorama said in a statement to the Stock Exchange of Thailand.

Old World owns an ethylene oxide/ethylene glycol facility in the U.S., with a crude ethylene oxide capacity of 435,000 metric tons per annum, the statement said.

-By Phisanu Phromchanya, Dow Jones Newswires; 662-690-4200; phisanu.phromchanya@dowjones.com

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