* Lenders agree to amended covenants
* Review of merger with IPIC extended to July 6
* Shares up about a percent
June 30 Nova Chemicals Corp NCX.TONCX.N
said its lenders agreed to amend the financial covenants for
remainder of 2009.
The company had said in May that it had raised half of the
$100 million required to satisfy the conditions of the covenant
The chemical maker also said the review of its merger with
Abu Dhabi government-owned International Petroleum Investment
Co (IPIC) by the Investment Review Division of Industry Canada
was extended to July 6.
Nova Chemicals expects to close the transaction with IPIC
shortly after receipt of the regulatory approval.
Nova's shareholders voted in favor of IPIC's $500 million
takeover of the raw plastics manufacturer in April.
Shares of the company were trading up by 7 Canadian cents
at C$6.89 Tuesday afternoon on the Toronto Stock Exchange.
(Reporting by Arundhati Ramanathan in Bangalore; Editing by