A petrochemical company or private equity firm could buy Sunoco Inc.'s (SUN) chemical assets, Chief Executive Lynn Elsenhans said Monday.

The assets have been on the block for over a year. Elsenhans, who came to Philadelphia-based Sunoco in August, said investment in the plants might better match another company's strategy.

"There are ways to unlock return, but they're not competing for our investment," she said. The company had considered forming a joint venture for the assets, but decided against that plan.

While the chemical assets are linked to Sunoco's refineries, Elsenhans said that would not block a sale.

-By Jessica Resnick-Ault, Dow Jones Newswires; 201-938-4435; jessica.resnick-ault@dowjones.com

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