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Oil and Gas

SK Innovation acquires Dow Chemical's ethylene acrylic acid business

SEOUL, Feb 2 (Reuters) - South Korea’s SK Innovation said on Thursday it will acquire Dow Chemical Co’s ethylene acrylic acid (EAA) business in a bid to boost its efforts to lead high-value added chemical markets.

SK Global Chemical Co Ltd, a unit of SK Innovation, signed the acquisition deal worth $370 million, SK Innovation said in a filing to the stock exchange.

Under the deal, SK Global Chemical will take over Dow Chemical-owned assets and the EAA business in the United States and Spain, the company said.

Reporting by Jane Chung; Editing by Stephen Coates

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