Sunoco CEO: Potential Buyers Seen For Chemicals Unit
15 Dicembre 2008 - 3:45PM
Dow Jones News
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
Click here to go to Dow Jones NewsPlus, a web front
page of today's most important business and market news, analysis
and commentary. You can use this link on the day this article is
published and the following day.