January 17, 2018 / 1:32 AM / a year ago

Bankrupt M&G selling W. Virginia, Ohio sites to Indorama Ventures

Bankrupt plastics maker M&G USA Corp is seeking court approval to enter into an agreement to sell a shuttered plant in West Virginia and a research center in Ohio for $10 million to chemicals company Indorama Ventures Public Co Ltd of Thailand.

Indorama, which has 75 production sites in 25 countries, would serve as a stalking-horse for the transaction, meaning its offer would set a minimum for potential bidding for the facilities in Apple Grove, West Virginia and Sharon Center, Ohio.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2DisBgC

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